Everyone knows that corn is the main crop in the United States. However, this year, farmers in many states are going to plant most of their fields with soy. This is due to the fact that soybean prices rose by almost 10% since 2016, and its crop expenses decreased. US farmers can boast of a special technology that enables the production of maximum yield at each acre.
Increasing demand for soy is associated with the development of agro-industries. Today soybeans are successfully used in the production of:
• vegetable oil;
• animal feeding stuff;
• biofuels.
Increasing global demand for meat, dairy products, and poultry made it possible to increase the export of soya, which is used for animal feed. Wholesale prices for soybeans in 2016 rose for the first time in four years. In 2017 in order to increase profits, farmers increased their soybean planting by almost 6%, which is about 89 million acres. While the estimated amount of corn crops will fall by nearly 4%, to 90 million acres.
Selection of plants for planting depends on the region and prices on the world grain market. For example, farmers in the United States have already had to reduce the number of winter wheat due to lower prices to a ten-year low due to oversupply.
Agriculturists are concerned that Donald Trump's policy regarding commercial transactions can destroy corn exports to Mexico.
At most, soybeans this season received special attention due to the fact that the prices of futures after harvest show that the profit from the corn is less promising than the production and sale of soybeans.
Information for those farmers who want to sell grain at a time when to the new harvest is more than six months: the wholesale prices for soybeans are 2.6 times higher than for corn.
This year, the profit from the sale of soybeans will exceed the profit from the sale of maize an average of $50 per acre. In addition, farmers will spend from $295 to $320 per acre at planting of soybeans, up from $520 to $530 per acre when sowing maize.
