January 13, 2023
January Corn & Soybean Outlook Update
Nathan Thompson and Michael Langemeier joined James Mintert on this podcast to discuss new information from USDA’s January 2023 World Ag Supply & Demand Estimates (WASDE) report, which was released on January 12th. During the podcast they also provided an update on Eastern Corn Belt corn and soybean basis bids, marketing opportunities for both old and new crop corn and soybeans along with current breakeven estimates for corn and soybean production in 2023.
The accompanying slides are available for download below.
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Margaret Lippsmeyer presented during agri benchmark’s 2024 annual conference in mid June, which was hosted by the Spanish Ministry of Agriculture in Valladolid, Spain. An increase in soybean acreage may come from either (a) shifting away from continuous corn rotations to corn-soy and (b) shifting corn-soy rotations toward corn-soy-soy. Based on agri benchmark data, Margaret showed that option (a) would require an increase in soybean prices of 6% and option (b) of 8% to make these rotations preferable over existing ones.
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We are taking a short break, but please plan to join us at one of our future programs that is a little farther in the future.