In the second session on Feb. 22, MSU Extension soybean educator Mike Staton focuses on “Improving Soybean Production Income.” The average soybean price for the 2020-2021 marketing year is projected to be $11.15 per bushel. This is welcome news considering the average prices for the previous two years were below the breakeven price for most producers. The higher price will tempt soybean producers to place a higher priority on increasing yields than on reducing production costs. Staton recommends resisting this temptation and proposes that the best way to capitalize on the higher soybean price is to maximize soybean yield without increasing costs. 

This presentation highlights management practices that maximize yield potential without increasing costs. The economic impact of various crop inputs such as fungicides, seed, seed treatments, starter fertilizer and foliar fertilizers will also be covered. The economic impact for the inputs was determined from numerous on-farm research trials conducted across multiple locations and years.