WASHINGTON — Market experts were surprised by the U.S. Department of Agriculture’s most recent reports that shows higher-than-expected corn and soybeans acres planted this year. Despite the late start caused by bad weather, farmers, especially in those areas relatively unaffected, planted more corn and soybeans than they had expected, said National Agricultural Statistics Service’s Lance Honig. At 93 million acres, this year will the second largest corn crop in U.S. history. Another surprise is that there are larger amounts of soybeans and corn held in reserve than expected, he said. However, because so much of the corn and soybeans were planted so late, he said he has concerns about the size of this fall’s harvest, especially if the weather isn’t favorable.
Monday, July 4, 1 p.m.
