The U.S. Department of Agriculture's Acreage Report sent corn and soybean prices in opposite directions, economists said.
The report, issued June 30, saw corn acreage in the U.S. rise 3.4% from February estimates, while soybean acres fell 4.6%. At 94 million acres, this year's corn crop is the third largest since 1944. Soybeans were down to 83.5 million acres.
Rice and cotton also gained ground, the report said, with rice up 7.5% from February's estimates and cotton up 1.7% to 11.1 million acres in June.
After the report, prices rose for soybeans and sank for corn.
Source: arkansasonline.com
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Categories: Kentucky, Crops, Corn, Soybeans