USDA Predicts Increase In Corn Acreage
Midwest farmers are expected to plant a huge corn crop this year. As Harvest Public Media’s Kristofor Husted reports, that could impact the farm economy.
Prices for staples like corn and soybeans have been sliding in recent years thanks to oversupply.
The U.S. Department of Agriculture predicts farmers will plant nearly 94 million acres of corn this season. That’s up 6 percent from last year and is the third highest planted acreage in the U.S. since the 1940s.
“I think what a lot of farmers are looking at, your upside potential particularly on revenue from corn, is probably better than it is with beans right now," says Paul Bertels with the National Corn Growers Association. "So they’re just going to take that gamble.”
A huge corn harvest coupled with slow global demand could mean a dip in farm income.