Trade
Farmers Bet on Soy With More Planting Tied to China Demand
A combine harvester during a soybean harvest at a farm in Harvard, Illinois.
Photographer: Christopher Dilts/BloombergUS growers will boost soybean plantings this spring and scale back on corn, the most widely grown American crop, after the revival of stalled exports of the beans to China.
Farmers will plant 85 million acres of soybeans this year, up from 81.2 million last year, the US Department of Agriculture said Thursday in the agency’s first outlook of the year.