Hindsight is 20/20. Earlier in 2014 when the prices were better for wheat and corn than they are now, it would have been a good move to lock some prices in. However, we saw great crops both domestically and globally. That depressed prices but, the hot commodity is and has been soybeans in 2014. With that, we may see some shifts for acreage in 2015.
Richard Plackemeier is with CHS Hedging out of Kansas City, Missouri and gave his predictions in a recent Northern Ag Network interview:
- In the Hard Wheat Belt, he says we’ve already seen a shift to more hard red wheat acres. This is because corn just didn’t seem as enticing as wheat in that area.
- In the East, he predicts that we’ll lose some soft wheat acres.
- In the spring wheat areas that can grow soybeans, Plackemeier predicts that may be the direction farmers go. There could also be a shift to other crops besides beans after this years spring wheat saw problems with low protein.
- As far as corn and beans, he predicts that we’ll probably see about 3 to 4 million acres of corn moving towards soybeans.
For the latest news from CHS Hedging, visit their website.
© Northern Ag Network 2014