2007 U.S. field crop production valued at $132 billion Friday, February 15, 2008, 11:55 AM
by John Perkins
The United States Department of Agriculture has released updated marketing year average price estimates. USDA showed the value of all U.S. field crops in 2007 at $132.410 billion. That's compared to the 2006 total of $93.694 billion and the 2005 figure of $78.730 billion.
Far and away, the top field crop production in 2007 was U.S. corn for grain, valued at $52.090 billion, compared to the 2006 figure of $32.095 billion. Soybeans, for beans, were placed at $26.752 billion compared to the prior year's value of $20.416 billion. All hay was pegged at $16.961 billion, compared to the $13.791 billion in 2006. Of the 2007 hay value total, $8.972 billion was alfalfa, with the remaining $7.989 billion classified as "other."
The value of 2007 U.S. wheat production was reported at $13.669 billion, well above the 2006 figure of $7.710 billion. Winter wheat value was $9.485 billion, an increase of $4.102 billion; durum was more than double the 2006 total at $702.714 million. Spring wheat in 2007 was reported at $3.482 billion, $1.399 billion above 2006.
U.S. sorghum production in 2007 was $1.951 billion, compared to $885.394 billion the year prior. The value of the U.S. rice crop was pegged at $2.274 billion, up $291 million on the year. Cotton production was valued at $5.197 billion, compared to the 2006 figure of $5.013 billion. Most of the cotton value total was Upland cotton at $4.802 billion and American Pima production was placed at $394.775 million. The value of cottonseed came out at $1.061 billion, compared to the 2006 figure of $814.151 million.
The 2007 averages of price per unit for selected crops are as follows:
Corn: $4.10 per bushel, compared to 2006's $3.04 Soybeans, for beans: $10.40 per bushel, compared to $6.43 in 2006 All Hay: $133 per ton, compared to $110 in 2006; alfalfa was pegged at $138, up $25, and "other" was $120, $17 above last year Rice: $11.50 per hundredweight, up $1.54 Sorghum: $6.95 per hundredweight, compared to 2006's $5.88 All Wheat: $6.65 per bushel, compared to $4.26; winter wheat at $6.65, compared to $4.17; durum at $9.75, compared to $4.43 and non-durum spring wheat at $6.90, compared to $4.46 All Cotton: $.569 per pound, compared to $.484; Upland cotton at $.535, compared to $.465 and American Pima at $.997, compared to $.943 Cottonseed: $160 per ton, compared to $111 in 2006
