Reported 4 months ago
Facing low prices for all crops, U.S. farmers like Mark Tuttle and Evan Hultine are opting to plant more soy and less corn due to soybeans' lower production costs offering the best chance to turn a profit. Despite sputtering demand and the possibility of driving soy prices even lower, planting more soy is seen as a better option than increasing corn acreage or leaving fields fallow, which could result in wider losses as U.S. farm incomes are already expected to see a significant annual drop. Trends show that soy plantings are expected to increase by 3.5% this year, while corn plantings are forecasted to shrink by 4.9%.
Source: YAHOO