When NDSU Extension Crops Marketing Economist Frayne Olson starts to do back-of-the envelope calculations on next year’s acreage, the commodities that lead the charge on bottom-line potential are oilseed crops. “Leading the pack is canola. There’s aggressive canola contracts already out, as well as oilseed sunflower contracts. When you look at net income and profitability, the oilseeds still seem to dominate. Soybeans are also attractive.” Corn and wheat profitability potential varies across North Dakota. Right now, specialty crops are trying to figure out how to be competitive with their contracts. “Because of the drought, inventories of some of the smaller market crops have been cut dramatically. Some are coming out with aggressive forward contracts to try and make sure they maintain their acreage and possibly build it. Fertilizer prices and availability will also have an impact.”
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