The Farm Progress PANEL is a way to take the pulse of farmers around the country, but there can be regional differences. Based on the latest panel, there's solid support among corn and soybean farmers, though cotton and wheat farmers are there too.
This time we asked: Pick your favorite: Which of these crops is your farm's best moneymaker?
At 4%, wheat didn’t come in as a strong performer, though wheat prices have been hitting some impressive highs lately. This does show that wheat geography is shrinking, and those farmers that answer are a smaller part of the PANEL than perhaps in the past.
Up next at 5% is cotton. Since cotton is predominantly in the South, panel responses from this area may have been limited, though cotton hasn't always been a strong moneymaker. While $1-plus cotton has been great news for many, prices for this fiber crop were soft for several years. Perhaps respondents were looking back on the recent past.
At 7% of respondents, forages had a solid showing. This is a "crop" that many farmers may not look on as a direct "cash sale" moneymaker, but for these farmers it's a top producer. Changes in the market, rising interest in small bales for horse owners and other opportunities are out there for forage producers.
Just under one-third of respondents tell us that soybeans are the top moneymaker. It's a crop that's seen a much better price return in the last few months for sure. Challenges to weed and disease control can push back on profits, but for these growers it's a top earner.
And the top crop in this survey may be no surprise to readers – corn is king with more than half sharing that this is their top crop. When you can hit 250 bushel-per-acre yields and lock in prices solidly above $5 in many markets, it's a solid earner. Rising nitrogen prices might change the results in 2022.
Thanks to everyone who responded to these PANEL questions.
Let your voice be heard
The Farm Progress PANEL is your chance to share your thoughts on key issues. To take part, start by signing up for our daily mobile text service Farm Progress NOW. To do that text FARM to 20505, and be sure to respond to the text that follows we have a double opt-in system to make sure you're signed up.
Later in one of our daily update texts we'll provide information about how to sign up for the PANEL. And thanks to the respondents for helping us out.