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Story summary
- Midwest broker Sam Hudson reports U.S. farmers are shifting acreage from corn to soybeans as fertilizer costs rise.
- Analyst Jeremy Zwinger says soybeans are lower-risk because they need less fertilizer and warns oversupply could last five years.
- The USDA Prospective Plantings Report projects soybean acreage to rise 4 percent this year to 84.7 million acres.
- Rep. Dusty Johnson (R-SD) is introducing legislation to require mandatory reporting of fertilizer prices for market transparency.
