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Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.
With another year of low corn production but high acres, did this negatively affect the total production for other crops in 2011? The USDA just released the final numbers on U.S. crop production for 2011 and I thought I would take a look. The major findings are as follows:
Every crop listed here but potatoes was down in production, in some cases substantially. We know that the drought in the Southern U.S. caused part of the drop in several of these crops, but for almost all crops to be down across the board was great for prices in 2011. But if we have a "normal" crop in 2012, how will prices respond?
My guess is that prices will come down some for most crops in 2012 unless we have another weather issue, and since this would be three crops in a row dramatically affected by weather, all bets on pricing would be off.
We shall see.
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