I think you will see a lot more beans planted since there is over a years supply of peanuts in storage and the outlook is not looking good. This, along with the fact that the speculators renigged on cotton contracts which left some producers in a major bind. High fertilizer prices will cut into the amount of corn planted so beans sound like a safe and cheap thing to plant. If for nothing else, for the insurance. Please note that this thought is worth about as much as a plug nickle.
Now that everybody realizes what a fiasco corn ethanol was and still learning the folly of bio diesel. Should help to cut out the extreme fluctuations in prices.
Such a world market, even more now with all the China trade. South America is producing and exporting to the countries the US had the market on a few years ago. And so much land to develop with the good climate South America will become THE major player. If not already.
Yields keep increasing, so less acres are needed. I think corn will mostly be in the 2.50 to 3.50 range maybe a little more. Soybeans depends on China's production and if they will need to import, if they do Brazil can raise and sell soybeans cheaper. Don't look for soybeans to go up anytime soon.