Updated: 03/27/2014 6:55 PM
Created: 03/27/2014 6:42 PM KSTP.com
By: Tim Sherno
Minnesota corn farmers saw a sharp drop in income in 2013. According to a study from Minnesota State Colleges and Universities and The University of Minnesota Extension, net farm income dropped to $41,899 in 2013 down from $189,679 in 2012.
Brent Mohn, who farms on land that's been in his family since 1860, says 2013 was tough.
"Earning an income last year was a little bit difficult to make the balance sheet work. Thankfully we have a good crop insurance program. to secure us on years when we have difficulty," Mohn said.
David Nicolai, a University of Minnesota Extension corn educator says lower earning crop followed a high earning crop. "Growers had good year the year before. So you have to look at it over the long term."
While global commodity prices played a role in the lower income, so did Minnesota's spring of 2013. Mohn says the problem was too much water. "Last year we're only able to plant about 50 percent of our acre due to wet conditions in the spring that prevented us from getting in our fields timely."
While earnings were lower, the study says the price of producing the crop increased by 10 percent.