Page 27 2024 Logan County Spring Farm Magazine LINCOLN DAILY NEWS March 2024 Continued -- among the state’s 102 counties for soybean production. The soybeans grown in Logan County – nearly 11 million bushels’ worth – and throughout Illinois feed livestock, create biofuels and are exported overseas, maintaining demand for farmers like me. 2024 Soybean Outlook Still, despite our ability to grow more soybeans than ever before, I’m still faced with a number of complications and challenges to deliver high-quality soybeans on the global market. Changing weather patterns have played a large role in past growing seasons – from wet springs to prolonged drought. Weed pressures and chemical control have been difficult to navigate as options become less effective. Markets have taken a hit recently and drive many decisions for crops to be planted this spring. Across the board, evaluating environmental and market outlooks for this upcoming growing season, it will be interesting to see how many soybeans acres will be planted. For example, the U.S. Department of Agriculture’s (USDA) 2024 Commodity Outlook calls for a reduction in commodity crop acres this year, due in part to lower commodity prices and increasing interest rates. Specific to soybeans, the USDA’s outlook calls for higher use, ending stocks, and supplies –in fact, supplies are forecast to climb to 4.5 billion bushels, up 8% from the 2023 crop year – a recipe for lower prices for farmers.
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