With about 60 percent of Indiana‘s harvesting done, the corn yield for this drought-plagued year is down about 40 percent.
That‘s according to Purdue University Agricultural Economist Chris Hurt. Hurt says consumers should expect to see continued rises in food prices next year to the tune of about four-percent.
Hurt says the low corn yield comes in at 100 bushels per acre compared to the normal yield of 165 bushels per acre. He says Indiana won‘t have extra corn to move out of state into the livestock market or foreign countries and the state may even have to import corn from Iowa or Minnesota, both of which had higher corn yields.
He says corn losses amount to billions of dollars for farmers but adds that the smaller corn crop is worth more per bushel. Hurt says corn accounts for about 6 million acres in Indiana.