Futures Market News
Crops produce more in 2010 than 2009
Feb 16, 2011 05:28 PM
Values for crops in the U.S. advanced 22 percent in 2010 amidst the global recovery from the deepest recession in more than 70 years, Bloomberg reports.
All crops totaled $192.5 billion in 2010, a $34.1 billion increase from the year prior, according to a Wednesday report from the U.S. Agriculture Department.
The value of corn, soybeans and other field crops increased to $159.7 billion, an increase of $33 billion over the prior year's figures. Nuts and fruits increased to $20.2 billion, up from $18.7 billion. Harvests of commercial vegetables dropped $400 million to $12.6 billion.
The U.S.' biggest crop remains corn and it struck record prices of $66.7 billion. The increase from the prior year's total of $46.7 billion is 43 percent. Soybeans remained the U.S.' second-biggest crop at $38.9 billion after having been valued at $32.1 billion in 2009.
The value of wheat registered at $12 billion, a 22 percent increase from $10.7 billion. Cotton increased 93 percent to $9.7 billion in 2010.
California, Iowa and Illinois registered as the top three agricultural states.
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