US soybeans hit new high
US soybean plantings have hit a new record, according to the June estimates by the USDA. It points to an area of 85.1 million acres (34.4 million ha), a 1.7% increase over last year's record area. The USDA forecast a 1.1% rise in March. Some 71% of the crop had been planted by the end of May, which was four percentage points behind last year but slightly ahead of the five-year average, the USDA notes. The proportion of the crop planted with genetically modified herbicide-tolerant lines is the same as last year at 94%.