2017 Crop Budgets and Current Prices Say Switch to Soybeans and Expect Low Returns12/07/2016
Current 2017 fall delivery bids for central Illinois are near $10 per bushel for soybeans while corn is near $3.60 per bushel. At those prices, soybeans are projected to be near $80 per acre more profitable than corn, sending a strong signal to switch acres from corn to soybeans. With increased 2017 soybean plantings, consideration should be given to pricing production on additional acres, thereby mitigating some risks associated with soybean price decreases. Returns for 2017 are projected to be low. Corn prices need to approach or exceed $4.00 per bushel before the farm financial position stabilizes in the Corn Belt.