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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Joe Kooima of Kooima Kooima Varilek says the reaction was a bit muted considering the placements were well below estimates. However, he says some of it was already priced in.
NASS says incorrect acreage weights for irrigated and nonirrigated fields affected September corn yield estimates for Kansas, Nebraska and the U.S. The agency’s October forecast remains unchanged.
Jerry Gulke, president of The Gulke Group, says it is technically bearish to close below the lows the previous two months.
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