USDA releases 10-year crop projections for corn, soybeans

The U.S. Department of Agriculture released its 10-year projections for the food and agricultural sector. The report noted that “Over the next several years, the agricultural sector continues to adjust to lower prices for most farm commodities. Planted acreage drops slightly despite continued low energy costs. However, marked shifts occur – most notably strong global demand for soybeans is expected to induce soybean plantings that exceed corn acreage. Lower feed costs and continued strong global demand provide economic incentives for expansion in the livestock sector.” Read more…