The University of Missouri Food and Agricultural Research Institute put the corn acreage figure at 92 million acres, which is in line with USDA estimates. The influence of the derecho in Iowa is expected to have a modest impact on production. The soybean acreage number of 83.8 million acres is up significantly from last year. Wheat acres have dropped below 44 million acres, continuing the trend of less production in the U.S. FAPRI said supply chain disruptions have increased the cost of producing livestock and dairy products. That should moderate in 2021, but will still pressure farmer’s share of the consumer dollar.
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