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Even soybeans produce a lower crop yield without the proper application of fertilizer. Most livestock as well as chicken rely on corn and soybeans for feed, which means even higher meat prices next year.
Soybeans need almost no fertilizer and basically no nitrogen. Soybeans actually add nitrogen in the soil. This is why most people here in the midwest rotate corn/soy each year in their fields.
Nitrogen in the Environment: Nitrogen Replacement Value of Legumes | MU Extension
Reviewed by David BruneDepartment of Agricultural EngineeringScott C. Killpack and Daryl BuchholzDepartment of Agronomy | Reviewed by David BruneDepartment of Agricultural EngineeringScott C. Killpack and Daryl BuchholzDepartment of AgronomyNitrogen is essential for all plant life. Regarding...
extension.missouri.edu
I think we will have much higher soy bean acres this year so they can follow them up with wheat to harvest next spring.
Also, I have not yet seen if the USDA will allow farmers to plant on CRP land this year without a consequence for doing so. From what I have read I think they will, but have not seen it in writing yet. If this happens we could see record acres in both corn and soy.