USDA: Corn acres expected to shrink 4 percent

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Associated Press

Posted on March 31, 2014 at 10:01 AM

Updated Monday, Mar 31 at 10:02 AM

OMAHA, Neb. (AP) — The number of acres devoted to corn is expected to shrink about 4 percent this year as farmers devote more of their land to soybeans.

The U.S. Department of Agriculture released its annual forecast Monday of what farmers plan to plant.

The USDA says it expects 91.7 million acres of corn to be planted this year, down from 95.37 million acres last year.

The number of acres devoted to soybeans is expected to grow about 6 percent to 81.5 million acres from last year's 76.5 million acres.

Iowa farmer Ray Gaesser says farmers are responding to predictions for tight soybean supplies and relatively high crop prices.

Gaesser, who serves as president of the American Soybean Association, says demand for soybeans is clearly high going into this year.

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