(NAFB) – An agricultural economist says there are many factors that could impact corn and soybean prices in 2021. Michael Langmeier, Purdue University Ag Economics Professor, presented the outlook during the virtual Commodity Classic event. Langmeier explains the outlook for this year.

However, the largest incentive right now, he says, is probably to increase soybean acres in 2021.

So, what about prices for corn and soybean in 2021? Langmeier says the ranges are wide.

While it may be hard to make a decision on what to plant in 2021, Langmeier says there is two important decisions to consider.