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| I can't believe it, usually soybeans won't make you the money under irrigation that corn will, but after yesterday my income projections have completely changed. Irrigated soybeans are actually a little better than corn under the pivot now IF I can get over 70 bu/acre.
I know for sure I'm switching one farm that was going to be COC, since COC vs soybeans isn't even close now. I haven't applied any N yet, so theoretically I'm not locked into anything yet, so I'm am going to be seriously contemplating this for the next few days.
Why is the market bidding for soybean acres and not corn? Does the market know something that I don't?
The caveat is: How many other people are going to change now? 2-3 million acres worth? If that is the case I'd better find a way to capitalize on the soybean-corn spread now before it goes back. All winter there has been all this talk of burdensome soybean stocks, yet soybeans rally. And they are higher again this morning. Somebody knows something.
I'm not usually one to chase these things, but apparently the "fringe" acres didn't get the memo that we don't need this many corn acres**********
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I'm seriously considering putting all my irrigated acres to soybeans....
