Market incentivizing wheat double-crop soybeans
A group of ag economists say there’s a market incentive to double crop wheat and soybeans in the 2023 crop year.
Economists from the University of Illinois and Ohio State University say the rotation might be more profitable than a standalone corn to soybeans rotation because of wheat production loss coming from the Russian – Ukrainian war.
The University of Illinois’ Gary Schnitkey tells Brownfield…
“Those crop combinations are providing energy and protein and prices will adjust to get those items and livestock rations amongst other things,” Schnitkey said.
He says comparisons done between central Illinois and southern Illinois point to the practice being most favorable in lower production areas which is reflective of the entire Corn Belt.
“Corn yields increase more the higher the productivity of the farmland and soybean yields don’t go down as much (on less productive farmland),” Schnitkey said. “So, the relative yields of corn and soybeans – there’s less of a difference in southern Illinois than there is in central Illinois.”
The group made their comparison by mapping different crop combinations and rotations by calorie and protein production with corn producing more calories and soybeans and wheat producing more protein. Schnitkey says using a standard corn – soybean rotation as the baseline, planting wheat double crop soybeans following corn is the best way to raise calorie and protein production.
The group says the double cropping incentive could be diminished if the wheat market drops by the fall.