Page 28 2024 Logan County Spring Farm Magazine LINCOLN DAILY NEWS March 2024 Here in Logan County, I’m expecting a slight increase in soybean acres due to soybeans offering a better net return per acre when compared to corn. I think the increase will be minimal because crop rotation is extremely important to Logan County farmers, and spreading out our risk while decreasing potential pest problems in our crops is a big plus. Driving Demand Roller coaster markets are nothing new. And, despite lower prices, demand for soybeans and soybean products remains high. The U.S. crush capacity – the process of making soybean meal for livestock feeds and other products – is going up, driving demand both domestically and internationally. And lower prices will likely further international demand for U.S. soybeans. Renewable biodiesel also will continue to drive soybean oil demand, with that market growing by 8% to 14 billion pounds. Additionally, Illinois will send around half of the soybean oil the state produces into the food industry – a vital market for continued demand. Despite higher supplies and dipping prices, growth in these areas of the soybean market are bright spots – and potential opportunities – for farmers looking at the stability and potential growth of the soybean market. 2024 and Beyond I’ve farmed in Logan County for more than 44 years and I can say, without a doubt, the only thing constant in farming is change. As a long-time member of the Illinois Soybean Association – and now, as board chair – I’ve gotten a firsthand look at how we change. Instead of adhering to the “this is the way we’ve always done it” mantra, farmers like me have chosen to embrace and champion changes in consumer tastes by adding sustainability programs and higher efficiency and higher quality products as we modernize our farms and look for new ways to drive demand and profit. Paying attention to a few key factors can help farmers stay ahead of the curve and take advantage of the rapidly changing soybean market: Focus on Quality For most farmers, potential yield is the determining factor when choosing seed and Continued --
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