US soybean plantings could top corn for first time in 35 years

Farmers in the United States this year are shirking corn production.

Bumper harvests in recent years have caused a sizable excess in corn holdings, which has routed market prices and dropped farmer incomes.

Fewer corn plantings in 2018 could ease the overhang, as farmer profits this year are expected to hit their lowest point since pre-recession 2006.

Farmers also are planting fewer soybeans, but production of the oilseed is set to outpace corn plantings for the first time in 35 years. Corn and soybeans are the two largest U.S. crops.

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