Corn holds an edge over Soybeans – 04/18/2022

The March planted area survey found US farmers planning to cut planted area in favor of other row crops. The corn market has been on a mission to both ration old crop corn supplies and induce farmers to plant more area to corn this spring. We have prepared several charts and a sample budget for corn and soybeans based on current market prices for new crop corn and soybeans. The budget data suggests corn is more profitable than soybeans assuming mid April price levels even  considering sharply higher fertilizer and fuel costs. But at this late stage in the planning process extra corn area will likely come from pasture or other marginal acres.

The budgets only consider variable costs.