Perry Beeman, July 23 – Iowa, the nation’s king of corn production, will have to import some of the prized kernels because this season’s dicey crop won’t meet demand, an analyst said Tuesday.
A couple obig reasons: ethanol plants are returning to full production and livestock operations are growing and need more feed.
Ross Korves, economic policy analyst for Michigan-based ProExporter Network, said it’s a rare situation that comes because flooding delayed spring planting, and a year earlier, drought shriveled the state’s usual shining yields.
Korves addressed the Iowa Farm Bureau Federation’s Economic Summit at Iowa State University.
This year’s Iowa corn forecasts are running at a reduced 149 bushels an acre, better than last year’s 137 but far lower than the goals that easily run into the 180s, Korves said. As it stands, Iowa is expected to come in below the projected national average of 152 bushels per acre.