U.S. Soybean Acreage Seen Lower; Corn Plantings Most Since 1936
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U.S. farmers will sow fewer acres with soybeans this year, the government said, surprising analysts who were expecting a gain. Corn will get the most acreage since 1936, the U.S. Department of Agriculture said.
About 77.126 million acres will be sown with soybeans, down 0.1 percent from 77.198 million a year ago, the USDA said today in a report based on a survey of farmers. Analysts in a Bloomberg survey were expecting 78.351 million. Corn acreage will reach 97.282 million, up from 97.155 million last year, the agency said. The average analyst estimate was 97.339 million.