It has been another productive year for Iowa’s grain farmers.  While a number of farmers in Iowa experienced weather-related problems, the state as a whole produced its 5th largest grain crop in history and one that will set a new record for total value of the crop (Figure 1).  

Corn production in Iowa in 2022 is currently estimated to be 2.49 billion bushels, the 6th largest corn crop ever and very near the average sized crop in Iowa for the past 5 years. This year’s corn crop is currently estimated to have a market value of $16.8 billion, the second highest value for an Iowa corn crop (a bit lower than the record value of the 2020 Iowa corn crop) and substantially higher than the average value of the Iowa corn crop for the previous 5 years. 

Soybean production in Iowa in 2022 is currently estimated to be 581 million bushels, the second largest soybean production in Iowa, (behind the record Iowa soybean crop of 2021) and about 6% larger than the average Iowa soybean crop of the previous 5 years. The value of the 2022 Iowa soybean crop is currently estimated to be $8.03 billion, second greatest in Iowa history, less than 1% smaller than the value of the record set by the 2021 Iowa soybean crop.  

Oats production in Iowa in 2022 is currently estimated to be 3.2 million bushels with a value of $16.8 million. The 2022 oats crop in Iowa is about 16% smaller than the average of the previous 5 years but the value is nearly 35% greater than the average of the previous 5 years. 

 

Figure 1. Iowa Grain Production (Corn, Oats & Soybeans) 


Economic analysis provided by David Miller, Consulting Chief Economist, Decision Innovation Solutions on behalf of Iowa Farm Bureau.