Soybean areas set to top crops as farmers hedge against corn slump
Farmers from Louisiana to North Dakota plan to shift more land to soybeans as corn profits erode. Bloomberg notes soybean acreage could rise to a record 86.028 million acres while corn plantings fall to 89.091 million. USDA forecasts due later this week.
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Housing starts dip in January but remain high
Groundbreaking fell 2 percent to a 1.07 million unit pace, still above one million for five straight months. Single family starts slid 6.7 percent to 678,000 while multifamily rose 7.5 percent to 360,000 as housing demand tightens and household formation accelerates.
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