While many Illinois industries are still struggling with the COVID economy, the state’s ag sector is having a mostly positive harvest.
According to the United States Department of Agriculture’s (USDA) National Agriculture Statistics Service (NASS), farmers have harvested just over a quarter of the state’s corn and soybean crop, well ahead of their progress at the same time in 2019.
Only 46% of Illinois corn acres are rated as good or excellent, along with 43% of the beans, with much of that having to do with the wet spring and early flooding, as well as the August derecho that caused damage in parts of Northern Illinois.
The crops themselves are getting more valuable by the day, however, with corn and soybean prices rising substantially over the last month, meaning a potentially better bottom line for farms. During the week, soybean prices broke the $10.50 per bushel mark, the highest level since 2018, and corn prices rebounded to nearly $4 per bushel.