Friday, March 30, 2018

Soybean planting tops corn in U.S. for first time in decades

For the first time in 35 years, American farmers say they plan to plant more soybeans than corn. According to the annual prospective planting report the U.S. Department of Agriculture released yesterday, farmers say they intend to plant 89 million acres in soybeans and 88 million acres in corn.

"The primary reason is profitability," David Pitt reports for The Associated Press. "Corn costs much more to plant because of required demands for pest and disease control and fertilizer. When the profitability of both crops is close, farmers bet on soybeans for a better return."

The last time soybeans beat out corn, in 1983, the government encouraged farmers to plant fewer acres to increase prices because of the farm crisis at the time.

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