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The possibility of a switch to soybeans

There has been a lot of talk about the possibility of switching corn acres to soybeans – especially in areas where planting is already delayed.

Purdue Extension ag economist Chris Hurt says not everyone will be able to make the switch – especially farmers that already have fertilizer down.  “I think we’re looking at a more limited number of opportunities that producers have,” he says.  “Certainly some will not have flexibility.”

Hurt tells Brownfield the market continues to signal that the world needs more soybeans.  “Now with the loss of production in South America that USDA has at least confirmed with their estimates, the number of soybeans needs to increase,” he says.  “The market is asking us to get at least 2 to 3 million more acres converted from those early intentions to plant corn and get much of that over to soybeans.”

He says prices are also indicating that the world does not need additional supplies of corn and wheat.

AUDIO: Chris Hurt, Purdue University Extension