News

Illinois economist expects ’18 soybean acres to remain near record levels

An ag economist is forecasting 2018 U.S. soybean acreage to remain near record levels.

Todd Hubbs at the University of Illinois says the market is sending farmers strong signals to plant the equivalent of 2017’s historic 89.5 million acres.

“A lot of things can change between now and time for planting, but normally I look at what kind of price ratio we’re looking at between corn, soybeans, and maybe some other crops in the South that substitute.”

He tells Brownfield price ratios seem to favor soybeans, similar to the outlook last fall.

Hubbs expects more growers to plant soybeans on soybeans next year.

“I’ve been out talking with some people and there’s been some discussion on following up with beans on beans.  Yes, there are drawbacks to it, but the price difference right now is making people think about it pretty hard.”

Hubbs says he anticipates corn and soybean prices to remain near break-even levels for another year, pointing out issues with the South American crop could alter planting intentions.