Market Rally: The Market is Asking for More Beans

November 29, 2017 07:10 PM

“If we were having this conversation three or four years ago they’d call us crazy and run us out of town, but there are guys thinking about some bean-on-bean production for 2018,” said Matt Bennett from Bennett Consulting, Windsor, Illinois, on Wednesday’s Market Rally with Chip Flory. The reason some are considering such a move is simple. Bennett said, “For the third or fourth year in a row, the projected net profit on beans in 2018 is higher than it is for corn.”

Bennett added, “The world has been asking for more beans and the market has delivered more beans. And the market – at least right now – is asking for more beans again in 2018. I wouldn’t be surprised to see a few more acres planted to beans than to corn in the year ahead.” Bennett cautioned, however, that the spring price on Revenue Protection Policies will have a major influence on final planting decisions in what will be another tight-margin year for most growers.

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