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Soybean prices have rallied sharply, prompting more U.S. farmers to consider planting soybeans this spring. The average U.S. soybean price rose from $8.28 per bushel in May 2020 to $10.90 in January 2021, the highest since late 2014.
Corn and wheat prices have also risen, making acreage forecasts uncertain.
Expected acreage growth in soybeans would increase future supply, which could ease prices later. Higher corn and wheat prices compete for acres and add uncertainty to supply outlooks.
agweek.comJonathan KnutsonMar 15, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
