According to a report from USSOY.org's Fresh From the Field update, U.S. farmers were expected to greatly reduce their plantings of soybeans next spring after planting the second-largest soybean area in 2018.
Record yields and sluggish export demand combined to weigh on the prices that farmers could receive for their soybeans this fall.
This coincided with a period when the price outlook appeared to be more favorable to switch acreage to alternative crops such as spring wheat or corn.
Earlier this fall, these features led some in the trade to look for as many as 4 million hectares (approximately 10 million acres) to switch out of soybeans.
Read the full report here.
