IARN — While the markets are even more volatile in the past hours and days than they already have been, the prices are still very good. However, the costs of inputs for corn are continuing to climb, and the current unease in the Black Sea means will probably continue to do so. Because of the situation, there are farmers who are on the fence about how they plan to use their acres for crop production this year.
Further adding monkey wrenches to the decision-making process is the fact the USDA Ag Outlook Forum is pegging an increase in soybean acres in 2022, with a corresponding decrease in corn acres. There is speculation that we may see some acres go to other commodities like wheat, cotton, or oats. This all depends on your growing seasons and soil types.
Iowa farmers have some tough decisions to make in the next few days and weeks. They must certify their acres for crop insurance programs with the USDA before the March 15th deadline. Yes, Iowa is a leading corn-producing state, but we are in soybeans as well. So, if you are still unsure about how to split up your acres this year, look a little closer at the numbers with soybeans.
