US - US soybean plantings are expected to be lower in 2015 compared with last year, the USDA announced at its annual outlook conference last week.
This news, reportedly, came as a surprise as some private US analysts were expecting higher plantings due to cheaper sowing costs for soybeans compared with maize.
However, compared with other major US crops, the forecast decline in soybean planted area is the least pronounced (see graph below) with only a 0.2 per cent drop in plantings expected.
Bearing in mind that US soybean planting won’t get into full swing until around April, there is still time for things to change.
As maize and soybeans compete for the same area, the relative prices of these crops at planting time are likely to be influential (see below).
TheCropSite News Desk