It’s Not Just Corn, U.S. Farmers May Forgo Near-Record Soy Acres
(Worthy News) – American farmers, already set to leave a record number of acres without corn, now face the prospect of also failing to plant soybeans because of rampant rainfall.
Growers are expected to file insurance claims on 2.2 million unplanted soybeans acres, or about 890,000 hectares, according to the average estimate among analysts. While some farmers still have time to plant, the estimate would be just below the record of 2.23 million acres that couldn’t be plant with soy in 2015.
The wettest 12 months on record have already prompted the U.S. Department of Agriculture to scale back its domestic corn harvest estimate earlier in the year than normal. The agency has signaled it may lower its estimate for American soybean in a report due July 11. [ Source: Bloomberg (Read More…) ]
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