Per acre, soybean fertiliser costs are between 20%-25% those of corn, with the USDA anticipating an average input cost of just $54/acre for soy in 2023, while corn is expected to cost $211/acre. From an input perspective, and as the price of fertiliser has fallen, the incentive for US farmers to favour soybeans has continued to weaken, allowing greater confidence in the outlook for corn.
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Graintab is a trading name of CRM Commodities Ltd (CRM Agri) which delivers independent agricultural commodity market research and advisory services. [www.crmagri.co.uk]
Graintab is a trading name of CRM Commodities Ltd (CRM Agri) which delivers independent agricultural commodity market research and advisory services. [www.crmagri.co.uk]
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- Agricultural Economic Outlook – October 2024
• Trump victory initially weighs on grain markets • US dollar continues to surge • Oil price risk premium provides support - Weekly Oilseed Outlook
Highlights: • Rapeseed - Prices extend rally, but headwinds mount • Soybeans - Strong demand for US soybeans—for now, at least • Crop Watch - Weather helps French, South American sowings
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- Wheat rises on escalating geo-political tensions November 21, 2024