New analysis released by the National Corn Growers Association (NCGA) today projects a drastic drop in 2020 revenues as a result of the COVID-19 pandemic with impacts persisting into 2021.
The latest analysis projects a $59 per acre average revenue decline for the 2019 corn crop and an $89 per acre average revenue decline for 2020, compared to pre-COVID-19 projections. If realized, the 2020 crop year revenue would be the lowest corn revenues since 2006. Residual impacts from COVID-19 on corn prices are very likely to persist into 2021 and possibly beyond.
KGNC’s Shannon Gray visits with Texas Corn Producers Executive Director David Gibson about this study and what it means for local corn growers. Gibson says mitigating these factors will more than likely require additional assistance from the Federal Governement, but what that will look like is anyone’s guess.