Harvest of this year's corn and soybean crops is continuing, but already there is speculation about which crop farmers will plant more of next spring. World Agricultural Outlook Board Chairman Gerry Bange says there are a lot of numbers to crunch and even then it is still unclear.
"Right now if you look at futures prices the ratio of soybean prices to corn prices, one would have to think corn prices would have a little bit of an edge," Bange says. "On the other hand if you look at the returns per acre soybean production looks a little bit better, so depending on what measure the farmer is looking at they've got several choices to make and I'm sure some very, very difficult ones from the perspective of a farmer."
With prices and the economy changing so fast and with seven months to go until spring planting it's too early to know what will happen, but Bange says regardless of farmers' decision they will likely see less net revenue next year.