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Market expert predicts fewer soybean acres next spring

A market specialist expects a shift away from soybean acres next spring.  Todd Hubbs with the University of Illinois says, “We might be seeing with profiting margins narrowing in a lot of crops some switch back to a little more wheat, spring wheat in some places, a little more cotton, and maybe a little unwinding of this buildup we’ve seen over the last ten plus years.”

Hubbs tells Brownfield that unwinding might also mean more corn will be planted, even though margins are not very good.  “Based on current market conditions and the model I’ve built for myself to use, I’ve got about 91.1 million acres which is up, but it’s not anywhere near what a lot of the surveys earlier this year have said will be in 2019.

Hubbs says with tight margins, it’s very important to have a marketing plan for all crops.  “Start thinking hard about marketing, especially if you’re in corn and soybeans.  Any of the field crops, really.  If you haven’t been doing it over the last few years, I think it’s time to take some time and build a good marketing plan and stick to it.”

Hubbs tells Brownfield 2019 might be a good year to consider specialty crops or small grains, but it’s wise to have a buyer lined up before planting those crops.