Expectations for Corn and Soybean Prices Over the Next Five Years
Many farm decisions are aided by having longer-run projections of corn and soybean prices. For example, determining the appropriate level of cash rents is aided by price projections. In this article, several longer-termed projections are presented. For the 2017 marketing year, these sources suggest that a corn price below or near $3.50 is appropriate to use in budgets. The sources suggest that prices near or above $3.50 are realistic for the 2018 and 2019 marketing years. For soybeans, the projections suggest a price in the low to mid-$9 range for the 2017 marketing year. Using mid to high-$9 prices in the 2018 and 2019 marketing years appear realistic.