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Soybeans “appealing” as farmers look at 2024 acreage

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Soybeans are expected to regain some ground next year.

Ag economist David Widmar with Ag Economic Insights says price ratios should favor soybeans in 2024.

“Maybe not as strong as we would’ve seen for the cash prices today and producers will have to keep an eye on that, but soybeans’ other appeal is that it takes less dollars to plant that crop. It’s a less variable cost going into that crop.”

He tells Brownfield acreage got a bit out of balance with ratios screaming ‘plant corn’ in the fall of 2022.

Soybeans “appealing” as farmers look at 2024 acreage