US Soybean Planted Area Likely to Increase -01/29/2022

US farmers are projected to increase the area devoted to soybeans this spring considering —-

…  The soybean corn price ratio is above the midpoint of the past 30 year range.

…  The cost of diesel fuel and nitrogen fertilizer has increased 30+ percent and 54% respectively  over the last year. Soybean cultivation requires less of the aforementioned inputs than corn.    

… Farmers are likely to devote increased  acres in row crops this spring compared to  the recent past. Even considering increased costs, row crops remain profitable. 

Our acreage model, based on the current soybean/corn price ratio and trend  forecasts 2022 US soybean planted area at 92 million acres  compared 88 million acres in both the March and final 2021 planted area surveys.