WASHINGTON, March 31 (Reuters) - Farmers will struggle to
replenish rapidly shrinking U.S. grain stocks this year,
despite plans to sow the most land to corn since World War Two
and near-record acreage to soybeans, two U.S. government
reports showed on Thursday.
Chicago corn Cc1 prices surged their daily limit, while
soybeans Sc1 and wheat Wc1 jumped more than 3 percent as
traders looked past higher-than-expected figures in the
Department of Agriculture's annual planting survey to focus on
inventories, which fell much more than forecast.
The report underscored the fact that U.S. farmers are now
reaching the limits of arable land in the world's biggest crop
exporter, with increased corn sowing coming at the expense of
soybeans and cotton. The spring wheat crop, while among the
biggest in decades, could yet shrink.
http://af.reuters.com/article/energyOilNews/idAFN3125675820110331