News
Analyst anticipates 2 to 3 million acre shift to soybeans
A market analyst anticipates a moderate acreage shift this year.
Total Farm Marketing’s Bryan Doherty says record-high input costs make $6 dollar corn less attractive.
“I think it’s real that farmers are looking at this (thinking they’ve) had a good year and don’t want to flub it up by taking big losses next year and paying high prices for fertilizer when corn prices go down. So I think the shift is there, at least that’s what my seed dealers and that’s what farmers are telling me, that they intend to plant more soybean acres.”
USDA’s prospective plantings report is two months away . Speaking to Brownfield Tuesday at the Iowa Ag Expo in Des Moines, he says two to three million corn acres going to soybeans makes sense.
“I can rationalize the logic behind that (when) you think about if you drive past 100 fields, you’ve got two or three that are soybeans that weren’t soybeans last year. That seems doable and logical given the current state of fertilizer prices. And more importantly, whether (farmers) are going to get it or not.”
Doherty says some farmers are leaning toward soybeans because they fear corn inputs won’t be readily available.
