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Ag economy barometer: farmers will plant fewer soybeans in 2019

Farmers surveyed in the Purdue University/CME Group Ag Economy Barometer say they will plant fewer soybeans in 2019.

Purdue University’s Jim Mintert says the survey focused on farmers who grew soybeans last year.

“A month ago, 19 percent of them say that they plan to reduce their soybean acreage in 2019 and on this month’s survey, 30 percent of the farmers said the plan to reduce their soybean acreage,” he says. “Roughly two thirds of them both months said that they plan to reduce their soybean acreage by 10 percent or more.”

Sixty-six percent of farmers said they plan to grow corn in acreage previously devoted to soybeans.

Mintert says farmers are looking for ways to improve their bottom line.

“Clearly people are thinking about what they can do to make some changes to make their farm a little more profitable in 2019 and I think that’s what is really going on.”

The ag economy barometer is a monthly national survey of 400 U.S. ag producers.

Audio: Jim Mintert, Purdue University 

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