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China to plant less corn, more soybeans

China’s cabinet says that in the next five years, the country will plant more soybean acres, and fewer corn acres.  China outlined goals earlier this year to adjust its crop structure to better meet demand.

China has encouraged farmers to plant more corn and less soybeans in recent years by inflating corn prices.  They abandoned the policy earlier this year because of huge corn reserves.  Now China’s attempting to reverse that trend and to find ways to use up its grain stocks.

China’s five-year plan has corn acreage falling by almost one percent each year, down to 82 million acres by 2020.

At the same time, China’s soybean acreage will jump to 23 million acres by 2020, up from 16 million acres in 2015.

China’s pork, beef and milk output is also set to grow slightly in the next five years.

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