A poor wheat crop and falling prices for corn and soybeans have Kansas farmers preparing for a sharp drop in their incomes after several prosperous years.
The Wichita Eagle reports the state’s wheat harvest is down by 26 percent from last year, according to U.S. Department of Agriculture statistics.
Abundant rain and cool temperatures in June and July have put the nation on track for the second-biggest corn crop ever and the biggest soybean crop, but the glut has driven corn prices down more than $1 a bushel in the last month.
Kansas livestock producers could benefit from low crop prices that have made feed cheaper for their animals. And with the state’s ranchers rebuilding their herds, fewer head of cattle are going to market, and profits are rising.