Agricultural News
Chip Flory with Pro Farmer Believes Market Telling Farmers Plant Soybeans Instead of Cotton
Fri, 02 Mar 2012 01:02:12 CST
As March 2012 arrives, the battle for acres in the United States is in full swing- and according to Chip Flory with Pro Farmer, he believes that we will have more acres going into corn for the 2012 planting season. At Commodity Classic in Nashville, we caught him in the hallways of Opryland's Convention Center- and we talked corn, soybean and cotton acreage numbers for the upcoming planting season.
Flory believes that 94 million acres of corn, which a lot of analysts have been predicting, is very doable. He's less comfortable with a higher number of perhaps 95 million acres planted to corn this season- saying that would be a stretch. Flory adds that there has been some movement of acres in recent days- as February has seen soybean prices rally as the market is trying entice more acres into the oilseed. One area that could see this market effort succeed is where both cotton and soybeans can be grown- including in the mid south.
Flory says the economics currently favor soybeans being planted over cotton, especially after the February soybean price runup. He tells us "those soybeans have got to be winning the dryland acres in the south, there's no economic reason that they shouldn't." He believes that $13 beans could also take some acres away from corn depending on planting conditions in the weeks ahead.
You can listen to our full conversation with Chip Flory of Pro Farmer by clicking on the LISTEN BAR below- and you can follow Chip on Twitter by clicking here..
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