As the 2021 harvest draws to a close, farmers are evaluating the acreage to be sown to either corn or soybeans.  It is generally accepted that farmers will have experienced a profitable 2021 and that both prices and yields will be high in 2022 despite increases in input costs.

Agricultural consultants have provided clients with projections for 2022 based on $5.50 per bushel per corn and $12.50 for soybeans with projected yields of 60 bushels per acre for soybeans and 200 bushels per acre for corn.  Accepting these projections, corn will return $155 per acre and beans $70 per acre representing a corn:soybean ratio of 2.29, obviously favoring corn despite higher per acre costs.

In 2022, farmers will experience higher costs for nitrogen ($95 higher per acre); cash rent ($25 per acre); fertilizer (up 43 percent) and seed (up 7 percent).