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U OF ILLINOIS ECONOMIST: PLAN FOR $4 CORN, $9 SOYBEANS IN 2019
Dec. 27, 2018
BrownfieldAgNews reports:
An Ag economist says $4 corn and $9 soybeans are the numbers to calculate with this marketing year.
"If that's the worst sale you make all marketing year, even into 2019, I'll be happy for you out there. If you can't make it work at those prices, you might have a tough time getting them much higher than that."
Todd Hubbs with the University of Illinois says trade uncertainty, especially with China, have put soybeans in a delicate spot going into 2019. He tells Brownfield growers should zero in on a break-even.
"Have a plan in place. Think about what kind of prices you can make a profit at and if you get an opportunity - make the sale. If you are going to wait around for $11 beans and $5 corn, I have a feeling you're going to be waiting a while."
Hubbs says even if there is a trade resolution with China, there is still potential for fierce competition in the 2019 soybean export market.
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