Midwest Deluge Spurs Cut in U.S. Estimate for Soybean Acreage
- Projections may be down again on seeding delays, analysts say
- 2019 through May was the wettest ever, drenching crop region
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The spring deluge in the Midwest and Great Plains spurred a cut in the U.S. forecast for soybean acreage, a bigger reduction than analysts expected.
Planting this season was pegged at 80 million acres, the U.S. Department of Agriculture said Friday in a report. Analysts in a Bloomberg survey expected 84.7 million.