Grain and soybeans prices will smash records in 2022, according to an outlook produced by Farmers Business Network (FBN), but near-record input costs will limit profits.

The outlook, published March 10 during the 2022 Commodity Classic, suggests corn futures are likely to trade above $8, especially if the Russia-Ukraine conflict continues. 

Similarly, analysts expect soybean futures prices to remain strong and push higher, holding in the $18.25 range.

“Even before the Russia-Ukraine war, the outlook was supportive for higher corn prices,” outlook authors noted. “But this added catalyst likely puts corn on a path to fresh all-time highs. ... Expectations...