2018 should see less corn acreage worldwide—that according to U.S. market analyst Mike Zuzolo of Global Commodity Analytics.
Fewer corn plantings and more soybean plantings seem likely to pressure soybean market prices lower. That, as the U.S. Department of Agriculture predicts record soybean acres in 2018 in the United States. Meanwhile, Zuzolo says soybean demand, which has been increasing, should slow throughout the year.
He says world events could also change trade and market outcomes for 2018, but remains optimistic.
The December World Agricultural Supply and Demand report by USDA predicted a seasonal price range for corn between $2.85 to $3.55 per bushel, and a price range for soybeans between $8.60 to $10.00 per bushel.
From the National Association of Farm Broadcasting News Service.