Acreage debate begins for 2021

Even though the U.S. harvest season is just winding down, the trade is already starting to look forward to next year’s planting season. Soybeans rallied considerably in early September, and as a result, many farmers stated they would expand soybean plantings next year. At this time, the new-crop corn/soybean ratio has widened out to 2.72:1. 

This means it takes 2.72 bushels of new-crop corn to equal the value of 1 bushel of soybeans. This ratio is the widest we have seen in...