News

Illinois farmer says its clear soybeans will drive the market this year

Analysts have been speculating farmers will plant more soybean acres this year ahead of next month’s USDA Prospective Plantings report.

Western Illinois farmer John Longley says he was asked one big question during the USDA’s recent Ag Outlook Forum.  “Everybody has asked me that I’ve talked to – if the conversation goes on long enough – do you think the bean numbers are right?,” he says.  “Do you think they’re going to grow more soybeans?”

He says it was made clear soybeans will be a big driver in the commodity market this year.   “Increased soybean acres and increased price,” he says.  “Increased trend yields and probably a little more income for soybeans.”

As for Longley’s planting intentions this year?  “We’re actually going to have more soybeans than last year,” he says.  “But part of it is agronomic and we want to get back toward a 50/50 rotation.”

The USDA’s Prospective Planting report comes out March 31^st and Noon eastern.