(Bloomberg) -- Chicago soybean futures jumped to a
three-year high after a government report showed U.S. farmers
planted less than analysts expected and the fewest acres in 12
years.
Soybean acreage was slashed as farmers planted more corn,
which reached a 10-year high in February, driven by record demand
for ethanol and animal feed. When farmers were making planting
decisions in early March, corn had gained 82 percent from a year
earlier, while soybeans were up 29 percent.
Read more at Bloomberg Commodities News
three-year high after a government report showed U.S. farmers
planted less than analysts expected and the fewest acres in 12
years.
Soybean acreage was slashed as farmers planted more corn,
which reached a 10-year high in February, driven by record demand
for ethanol and animal feed. When farmers were making planting
decisions in early March, corn had gained 82 percent from a year
earlier, while soybeans were up 29 percent.
Read more at Bloomberg Commodities News
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