Markets Now: Flooding Could Push Acres To Soybeans

March 22, 2019 04:07 PM
 
 

Next week USDA releases their March perspective plantings report, and while early estimates show acres moving away from soybeans, analysts say the flooding some Corn Belt farmers are experiencing could bring those acres back.

 

“It’s a little bit of a moving target right now,” Jim Hebhuhn of Hertz Farm Management told U.S. Farm Report Host Tyne Morgan. “We're really focusing on weather at the moment, so our crystal ball’s a little bit cloudy. We've got a little way out before we need to really get overly concerned, but planting will get done.”

 

According to Hebhuhn, the question is how much of an acreage switch will occur.

 

“That's going to affect things certainly, in terms of corn acres,” he said, adding that if there are planting delays soybean acres could increase. “We could see a little bit higher soybean number, and that that's going to really have a little bit of an impact, at least on the overall supply demand scenario,” he said.

 

Not only are parts of the Corn Belt flooded, but soils across most of it are flooded, which could push some spring wheat acres into soybeans.  

 

“Normally by the end of the month they're starting to put some spring wheat in the ground up in the Dakotas, North Dakota, South Dakota,” Chip Flory said. “The odds of that happening in 2019 are pretty slim. We could see soybean acres be much higher than anticipated if they run into problems.”

 

If farmers in the Dakotas and Red River Valley are unable to plant corn or wheat in time, they will plant soybeans, he said.

 

Look for more coverage of the USDA planting intentions report next week on AgWeb.com.

 

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Comments

 
Spell Check

ck
bad axe, MI
3/23/2019 07:06 AM
 

  Trump loves soybeans , so the more we plant the bigger trump check at Christmas it's an election cycle.

 
 

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