USDA estimates record acreage for corn and soybeansKANSAS CITY, Mo. — Farmers are expected to boost corn and soybean acreage to historic highs this year, boosting overall grain reserves to unexpectedly high levels and driving down food prices, according to an Agriculture Department estimate released Wednesday.
Farmers will plant a record-high soybean crop while boosting the amount of corn acres by 3 percent this spring, the Agriculture Department reported. The higher-than-expected supply forecast caused a steep drop in crop futures on the Chicago Board of Trade.
By: Christopher Leonard, The Associated Press