The price of corn is never far from farmers’ minds, and here at the end of planting season is no exception. Farm Journal Pulse wanted to gauge what farmers’ profit goals are for the crop they just finished putting in the ground and asked this question: At what price do you expect to make money on your 2018 corn crop?
A total of 812 farmers from across the U.S. responded. Forty-six percent (376) shared that they need above $4 per bushel to break even. The second-highest number of farmers that responded (268 or 33%) said they need between $3.51 and $4 per bushel. A small percentage of farmers, 8% (62) said they will make money this year if they can sell corn at a price between $3 and $3.50.
Surprisingly, 105 farmers (13%) said they don’t know the price they need for their 2018 corn crop to be profitable.
The USDA-ERS shared in its May market outlook report that the midpoint of the forecast price range for 2018 is expected to be $3.80 per bushel, $0.40 higher than last season.