“The last two decades have seen huge improvements in agronomics. Seeds yield far more than before, even when rain and temperatures aren’t ideal, and irrigation has expanded. Farmers have access to much better hardware: large planters, powerful tractors, improved combines, larger storage facilities.

Compared with a decade ago, the world will harvest in 2024-25 about 10% more wheat, about 15% more corn, nearly 30% more soybeans, and about 10% more rice. Except for corn, all the other three key food commodities will enjoy a record high production.

Few regions show that combination of fair weather and scientific advances more clearly than the American Midwest.

On Monday, the US Department of Agriculture said it anticipates American farmers will reap record yields for two key food commodities: on average, 183.1 bushels per acre of corn, and 53.2 bushels per acre of soybeans…

Two decades ago, US corn farmers were harvesting about 150 bushels per acre; in the mid-1980s, the number was closer to 110 bushels.”

From Bloomberg.