Soybean Planting Decision in 2016: Are Soybeans-After-Soybeans Profitable?03/16/2016
Recent analysis suggests that soybeans have been more profitable than corn in Illinois from 2013 to 2015, and there is a reasonable chance that soybeans will be more profitable than corn in 2016 (farmdoc daily, February 16, 2016). Soybeans being more profitable than corn leads to the question: Should Illinois farmers raise more soybeans and cut back on corn acres in 2016? For many Illinois farmers, raising more soybeans will require planting soybeans on farmland planted to soybeans in 2015 (soybeans-after-soybeans). In this article, soybean-after-soybean budgets are presented for four regions of Illinois. When the previous crop is soybeans, 2016 budgets using current fall delivery prices indicate soybeans will be more profitable than corn in two of the four regions. For farmland previously planted to corn, soybeans are projected to be more profitable than corn in all Illinois regions.