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Farmers to plant more soybeans, less corn

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Farmers are expected to plant less corn this year, according to the Department of Agriculture, which could mean higher grocery bills, the Associated Press reported.

Farmers are expected to plant 86 million acres of corn this year, the government predicted Monday, down 8 percent from 2007, when the amount of corn planted was the highest since World War II. The decreased supply could drive corn prices even higher, which would raise the cost of producing many types of food. The Department of Agriculture report is based on sample surveys of 86,000 farm operators in the first two weeks of March

Corn prices have skyrocketed in recent years, helped by the growing ethanol industry, which turns the crop into fuel, and rising worldwide demand for food. The higher prices have hurt poultry, beef and pork companies, which feed corn to their animals.

According to the agriculture department, corn planting is expected to remain at historically high levels but could be down this year because of the high expense of growing corn and favorable prices for other crops, such as soybeans.

As many farmers have made that switch, soybean planting is expected to be up 18 percent this year, at almost 75 million acres. The largest increases in soybean planting are expected in Iowa and Nebraska.