The Nebraska Corn Board sharpened its pencil and did a bit of math on what kind of investment it takes to get corn planted in the state.
The result? $1.4 billion in fuel, seed, fertilizer and other planting costs.
With a multiplier impact of 2.5 times, that grows to whopping $3.5 billion.
That's a pretty big investment.
The Nebraska Corn Board got the initial figure from the Nebraska Farm Business Association and University of Nebraska Extension NebGuides, which estimate that Nebraska corn farmers make an investment of $160-170 an acre just to get the crop in the ground. Early estimates are that Nebraska will plant 8.8 million acres of corn.
"Investments in putting a crop in the ground provides not only a ripple effect in rural communities, but tremendous job opportunities in the agribusiness sector along with stimulus for the rest of the state, not to mention the value of what ultimately is harvested in the fall," said Don Hutchens, executive director of the Nebraska Corn Board.
For the full news release on this subject, click here.
No comments:
Post a Comment