The back and forth tariff conflict with China is not yet resolved. Tony Johansen is the chairman of the Nebraska Soybean Board and a farmer in Burt County and says that is on farmer’s minds as they get ready to hit the fields. He says there is a bit of wiggle room to decide what to plant, corn or beans but time is running out.
Johansen says, “Last year proved that we can plant corn and beans into the first of June so we are not really pressed right now. A lot of university research done at UNL shows if you get your soybeans in the ground by May 1st is when your optimal yields are so we always try push for that May 1st planting time frame. We would like to be planting corn this next week but I have a feeling these ground temps are going to prevent us from doing that.”
Johansen believes this is a political play to try to get China and U.S. to come to terms. He says the markets dropped 40 cents a bushel last week but rebounded since.
Johansen says about one of every three rows of beans grown in Nebraska end up in China but almost all of what is grown here ends up on rain and shipped to the Pacific Northwest. Beans then end up going to the Philippines, Vietnam and many other Southeast Asian countries that we have good trade relations with.
Johansen says now is the time to lock in prices. He says, “We haven’t had prices like this since 2016 and I’ve been challenging guys if this is a profitable level I would lock in your price per bushel and concentrate more on raising the biggest crop you can.” He says U.S. soy is very strong across the country and across the world.