Report Predicts Fewer Soybeans: A closely watched...

Report Predicts Fewer Soybeans: A closely watched Agriculture Department report projected for the first time that American farmers will plant more corn and less soybeans this spring than they did last year. But the long-awaited report, which also gave the first indication of what the size of this year’s U.S. agricultural crops may be, surprised many because the shift was smaller than the expectations of the grain trade. The survey of 75,000 farmers said Midwestern corn growers intended to plant 74.8 million acres, up 4% from last year’s acreage. Soybean farmers planned to sow 59.40 million acres, 2% below the level planted in 1989.