By Illinois Radio Network
BLOOMINGTON – At one time, corn was king. American farmers are now planting just as much soybeans as corn, and Illinois ranks as the top soybean-producing state in the country in four of the last five years, with Iowa as the state’s chief rival.
Mike Doherty, Illinois Farm Bureau senior economist and policy analyst, said that doesn’t mean Illinois farmers are giving up on corn. A hybrid mix of the two crops gives farmers some built in financial security, he said.
“Many of them, even then, were resistant to getting too far away from that 50-50 rotation because it works for them,” Doherty said.
Because of Illinois’ geography, farmers in the southern part of the state have the advantage of a longer growing season, he said.
“That gives us an area where you can double crop because you have a longer growing season further south,” Doherty said. “So we’re just able to squeeze in a double crop of corn and wheat.”
These days, farmers will often rotate that second crop between corn and beans.
Why the rise in soy? Demand is growing in China and other foreign markets. Plus, Doherty said, Brazil has emerged as a corn competitor in recent years.
Soybean demand in China has kept prices higher than the more competitive corn market. China now buys half of U.S. soybean exports for its pork production.
“Soybeans have a higher protein content than corn has and so there’s been this increasing demand each year overseas,” Doherty said.
Many farmers are worried that increasing tensions over a trade war may prompt China to impose a soybean tariff that would hurt their profits.
The U.S. Department of Agriculture expects American farmers will plant more than 10 million acres of soybeans and corn this year.
