The Farm CPA
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.
The $5 Billion Corn States
Feb 27, 2012
USDA has reported that there were five states in 2011 that generated more than $5 billion in corn sales:
- Iowa -- $14.5 billion
- Illinois -- $12.3 billion
- Nebraska -- $9.4 billion
- Minnesota -- $7.0 billion
- Indiana -- $5.3 billion
These five states generated 63.4% of all corn sales in the U.S. for 2011. The states of Ohio, South Dakota and Wisconsin each generated between $3 and $4 billion of corn sales.
For soybeans, there was only one state over $5 billion and that was Iowa, at $5.5 billion, with Illinois at $4.95 billion. The top three corn states generated more in sales than all of the U.S. soybean production of $35.8 billion.
There were only four wheat states that generated more than $1 billion in sales:
- Kansas -- $2.0 billion
- North Dakota -- $1.7 billion
- Montana -- $1.3 billion
- Washington -- $1.1 billion
Iowa generated more in corn sales at $14.5 billion than the whole U.S. wheat crop of $14.4 billion.
We can see why corn is king in the U.S. based on these statistics.