BAY, ARKANSAS. (RFD News) — For many crop growers, breaking even this year would be a win. Arkansas farmer Dean Elmore says that’s the reality he’s facing, with current budgets showing losses of about $300 per acre for rice and $150 per acre for corn. He says soybeans may be his best shot at covering costs.
“Every time we got the planters out in the morning, we would cut back some on the corn just because fertilizers had gotten ridiculously expensive.”
Elmore says soybeans carry lower input costs and tend to perform well in his area.
“Where we’re at, right here, we can make pretty good soybean yields, and that’s the best thing for us.”
Still, he’s cautious about relying too heavily on one crop.
“Last year, we paid more for soybean rent to our landlords than we did for rice rent. That’s unheard of. Everyone starts planting soybeans, the price drops, can’t get rid of them, so I’m a little nervous to plant all beans.”
Despite those concerns, planting progress in Arkansas is moving along.
USDA’s latest Crop Progress Report shows 61 percent of the state’s rice crop has been planted, with 30 percent already emerged. Winter wheat conditions are holding steady, with 47 percent rated good to excellent.
Farm CPA Paul Neiffer joined us on Thursday’s Market Day Report to discuss the implications for farmers.
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