Area farmers are now assessing their planting intentions this spring and many are turning to soybeans as the crop of choice. Part of the decision comes from predictions by the U-S Department of Agriculture that this year will be a record year for the crop. Market analyst Rachel Trego believes that soybeans are expected to top all the major grains and oilseeds in the 2017 growing season.
Market forecasters say that all grains and oilseeds will be modestly higher prices. The same cannot be said for corn. Trego says corn planting will not be as high, nor will there be that many fields dedicated to it like that of soybeans.
Forecasters are unsure if the low predictions for corn will actually be as low or even lower than thought. The concern is that the market may fall further.
The USDA is forecasting better farm prices this year as opposed to years past which will be welcome news to those who may be retiring from the industry.