In Kansas, they’re swapping corn for soybeans. In North Dakota, it’s wheat that farmers are ditching in favor of the oilseed.
Those are some of insights from the U.S. Department of Agriculture annual Prospective Plantings report published Friday. The agency estimates soybean acreage will increase 7.3 percent to a record 89.5 million acres this year. Here’s a breakdown of data on the three biggest crops:
OYBEANSFarmers switching to soy are being swayed by the better prospects for turning a profit on the crop compared with corn & wheat.CORNWhile higher year-on-year, the USDA’s corn acreage projection trailed estimates.WHEATThe total wheat acreage for 2017 is seen falling to the lowest since USDA data began in 1919.
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Read Here’s What U.S. Farmers Will Plant More (and Less) of in 2017 on bloomberg.com
IndustrialsU.S. Department of AgricultureNorth Dakota