New Analysis Shows Deeper COVID-19 Losses for Corn

CHESTERFIELD, MO – As the nation continues to reopen following the COVID-19 pandemic and shutdown of the global economy, researchers are warning of more economic fallout for the corn industry. Dr. Gary Schnitkey, an agricultural economist at the University of Illinois, is projecting a drastic drop in 2020 revenues with impacts persisting into 2021. Schnitkey’s latest analysis projects a $59 per acre average revenue decline for the 2019 corn crop and an $89 per acre average revenue decline for 2020. If realized, crop revenue this season would be the lowest corn revenues since 2006 and residual impacts from COVID-19 on corn prices are very likely to persist into 2021 and beyond.
(SOURCE: National Corn Growers Association)