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US farmers are preparing to plant more soybeans and less corn in 2017 because cash soybean prices have risen 9.2 percent since the 2016 harvest. That has created the widest soybean premium over corn in 29 years.
Soybeans are also cheaper to grow than corn.
A shift toward soybean acreage increases future soybean supply and reduces corn plantings, which weighs on corn prices. The wide soy-corn price ratio supports the switch.
bloomberg.comJeff WilsonFeb 22, 2017Not 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.
