According to the Crop Production Report by the USDA, from August 2016 , "Corn production is forecast at 15.2 billion bushels, up 11 percent from last year. Based on conditions as of August 1, yields are expected to average 175.1 bushels per acre, up 6.7 bushels from 2015. If realized, this will be the highest yield and production on record for the United States. Area harvested for grain is forecast at 86.6 million acres, unchanged from the June forecast, but up 7 percent from 2015"
Even so, a new report from the Rabobank Food & Agribusiness Research and Advisory group -Farming the Efficient Frontier- which explored the current costs of inputs and land, as well as the projected supply and demand of commodities, contends that "Crop Efficiency, Not Volume, Will Drive Future Financial Performance".
“In order to survive and thrive, farmers must adopt strategies that maximize bottom-line profit, rather than a simple focus on crop yield,” says Rabobank senior analyst Ken Zuckerberg.
The report maintains that the next few years will be decisive for the future of farmers. The decrease in the cost of inputs in 2016 is not enough to bring most farmers to a break-even point. To reach a substantial increase in yields, it is crucial, that farmers turn to technology driven solutions.
It is the right time, then, to evaluate what digital farming software can ensure both considerable increase in corn yields and savings on fertilizer costs, but also avoid waste and produce in compliance with environmental standards.
Contact our experts to help you answer those questions.