US crop planting is food for thought
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02/04/2008
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Financial Times (London)
Soyabean and wheat prices continued falling yesterday as traders chewed over the implications of the dramatic shifts in agricultural production likely across the US farming industry this year. Both soyabeans and wheat are on course for a large increase in farmland devoted to their production, while last year's rush by US farmers into corn to feed the requirements of the ethanol industry will be partially reversed. Soyabean prices fell sharply for a second session yesterday, with the benchmark CBOT May contract sinking to a session low of $11.06