Will U.S. farmers plant more soybeans next year? Some analysts say next year’s soybean acres will surpass this year’s record acreage of 88.7 million acres. The total number of acreage for soybeans in 2018 being discussed range anywhere from 86 to 90.5 million acres. The higher estimates could equate to more soybean acres than corn acres for the first time ever. But Mike Zuzolo from Global Commodity Analytics believes it’s too early to tell.
Some analysts say that more acres of soybeans in 2018 may not pencil out for farmers, saying soybean acreage may need to decline in 2018 to generate a 2018-19 marketing year average farm price in the mid-$9.00 range to cover the cost of production.
From the National Association of Farm Broadcasting News Service.