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Fri January 10, 2014
Planting Less Corn In 2014
Falling corn prices and questions about ethanol demand could lead Illinois farmers to plant fewer acres of corn this year.
Patrick Kirchhofer is manager of the Peoria County Farm Bureau. He tells the (Peoria) Journal Star that farmers are instead taking a closer look at soybeans this year. That's after several years of increasing corn production fueled by higher prices.
Nationwide, analysts have called last year's crop a record-breaker at more than 14 billion bushels.
Excess corn has pushed prices back down from $8 a bushel in 2012 to a current price of about $4.
Also, the U.S. Environmental Protection Agency has proposed reducing the amount of ethanol required to be blended into the nation's fuel.
Edwards farmer Ross Pauli worries that would hurt the farm economy.