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Looking Ahead to 2013

Posted on March 18, 2013 at 8:36 AM by Iowa Corn

Steve Johnson, an Iowa State University Extension farm management specialist, advises farmers to stay focused on production costs and profit margin opportunities this year.

“It's still too early to forecast a widespread 2013 drought in the U.S., but some pockets of drought in the Corn Belt are likely as the subsoil moisture supply is still depleted in many areas,” Johnson says. He also believes more soybean acres will be planted in South America and the United States.

In addition, uncertainty of global economic growth and the large amounts of debt that many countries are carrying could limit the upside of 2013 crop prices, despite the current tight ending stocks for both corn and soybeans that are forecast for August, 2013. Johnson says, "Land, seed and crop protection costs are the three expenses most likely to rise in 2013."

ISU has released its annual "Estimated Costs of Crop Production in Iowa", FM-1712 Revised. An online version of the publication with the 2013 crop cost estimates is now available on ISU's Ag Decision Maker site www.extension.iastate.edu/agdm as AgDM file A1-20. The printed version of the publication for 2013 can be downloaded from the ISU Extension Online Store at store.extension.iastate.edu/.

Both the AgDM file A1-20 version and the printed FM-1712 publication have spaces where you can insert your own cost estimates for crop inputs and farming operations, to make your own estimate for your farm.

Information from Steve Johnson, sdjohns@iastate.edu

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