Tariffs on soybeans could mean more producers will be switching to corn next year. This year, farmers planted more soybeans than corn for the first time in more than three decades, assuming it would be in high demand, but those Chinese tariffs are causing big problems. It’s leading to lowers exports and lower prices. Now, some analysts are saying farmers could convert as much as four million acres from soybeans to corn next spring. That would be roughly equal to the size of Connecticut.
Soybeans Vs. Corn: Which to Plant Next Year?
Tariffs on soybeans could mean more producers will be switching to corn next year.
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Jerry Gulke, president of The Gulke Group, says it is technically bearish to close below the lows the previous two months.
Dan Basse, president of Ag Resource Company, says he thinks the soybean market put in a bottom earlier in the week.
NASS identified a processing error affecting September corn data for Kansas, Nebraska and national figures. The agency says its October forecast of 181.2 bu. per acre remains unchanged, leaving questions about the yield jump.
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