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Soybeans May Lose Less Land to Corn than Expected

Beans may be nearly as profitable as corn in the Midwest this year

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The U.S. is awash in soybeans, the result of the trade war with China and a string of bumper crops.

According to a report at Successful Farming, although farmers were expected to respond by planting more corn this year while cutting back sharply on soybeans, there is skepticism that a large rush to corn will actually occur.

Soybeans may be nearly as profitable as corn in the Midwest this year, said economist Gary Schnitkey of the University of Illinois after comparing likely expenses and revenue from the two crops.

Traders expect soybean plantings of 86.1 million acres this spring, down by 3.5% from 2018, according to surveys released by Reuters and Bloomberg on Wednesday.

Read the full report at Successful Farming.

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