According to projections from the annual USDA Agriculture Outlook Forum, soybeans are expected to see an increase in planting and supply, which will contribute to a significant drop in price per bushel during 2013. The USDA Grain and Oilseeds Outlook, which provides the USDA’s projections of 2013/2014 supply and demand for wheat, corn, rice, and soybeans, projects that increased planting and price drops could result in a high net return of soybean crops.
The report states that predictions for high net returns are based on expectations for strong new-crop futures and cash forward prices. Soybean planting area is projected at 77.5 million acres, up .3 million from last year, but a number of other factors are expected to contribute to an increase in 2013 soybean planting, including:
· Opportunity for double-cropping with winter wheat acres
· Declined cotton planting in the Mississippi Delta region
· Reduction in Conservation Reserve Program acres in the Midwest
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