Photo: USDA
One central Chinese province has ordered its farmers to more than double their soybean acreage, amid a trade dispute with the U.S. and Beijing's push to reduce reliance on exports, says CNBC.
The agriculture department of Henan, which lies about 450 miles southwest of Beijing, said on its website Wednesday it will "actively guide" farmers to expand the soybean planting area by 82,370 acres.
"China's policy in 2017 had shifted toward encouraging soybean acreage [for 2018] instead of corn," says Rich Nelson, director of research at Allendale, an agricultural market research and trading firm.
