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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November soybeans failed to close above the key $12 level and Naomi Blohm of Total Farm Marketing thinks the market may be running out of runway as Monday was mostly technical buying.
President Jed Bower says the association is setting a course toward markets that could collectively unlock demand for billions of additional bushels of corn annually, “keeping farmers farming” for the next 250 years.
While, not yet confirmed by the U.S. Trade Representative’s office, Arlan Suderman, chief commodities economist, StoneX says the tariffs could be dropped by October 1.
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