Soybean may regain ‘king of US crops’ title after 35 years
Soybeans could now be the largest produced crop in the US, toppling corn for the first time in more than three decades.
According to a survey Bloomberg conducted among 21 trading firms and analysts, American farmers are keen on planting soy in a record 90.69 million acres while corn is forecast to drop to 90.12 million.
As early as last year, analysts have been projecting the great steal to happen soon, citing better premium yielded from soy farming.
The drought expected this year is giving analysts more reason to believe soy will reign supreme. Some areas of corn farms are already suffering the dry conditions that are expected to worsen in the following months. Meanwhile, soybeans are more drought-tolerant than corn.