What is in this article?:
- Double-crop wheat, soybeans good choice for second year running in Southeast
- Wheat on corn’s coattails
- The outlook for wheat and soybean is similar for 2014 as it was for 2013, a year that saw good economic returns for farmer who double cropped them, he said. Why? Prices are good for both commodities and better than others.
- A current prices, a Georgia grower needs to rake in a 55 bushel per acre average on wheat and get 30 bushels per acre on soybeans to cover costs, justify land rent, and make some money to boot.
WHEAT AND SOYBEANS are at times minor crops in the Deep South, but together the pair offers a strong match up against the region’s major commodities in 2014.
Wheat and soybeans are at times minor crops in the Deep South, but together their one-two punch offers a strong match against the region’s major commodities in 2014 and looks like a good economic opportunity for Southeast farmers, but that isn’t always the case.
“Both wheat and soybeans look bullish relative to the other major row crops we grow. Georgia producers, like in other Southern states, can double-crop soybeans behind wheat and the two together look better than some of the other enterprises,” said Nathan Smith. He’s a farm economist with the University of Georgia, covering wheat, soybean, corn and peanut marketing.
The outlook for wheat and soybeans is similar for 2014 as it was for 2013, a year which saw good economic returns for farmer who double-cropped them, he said. Why? Prices are good for both commodities and better compared to other commodities.
Wheat prices range from $6.40 a bushel in north Alabama to $5.80 in south Alabama and south Georgia right now. “Though wheat prices aren’t quite as good as last year at planting, $6 wheat is still an opportunity to make a profit with the kind of yields we’ve been making,” Smith said.
And soybeans are hovering in the $11 per bushel range. Not out of the park prices, but still plenty good soybean prices. Both markets look to stay strong in 2014. Corn prices are down compared to prices in the last two years and threaten to fall farther as the nation eyes a bumper corn harvest this year.