COMMODITY BRIEFS

COMMODITY BRIEFS

FARMERS SEEN SHIFTING

FROM BEANS TO CORNA swing back to corn plantings from soybeans is expected to be shown in the Department of Agriculture's prospective plantings report Friday, according to a Knight- Ridder Financial News survey.

For both crops, estimates were tightly bunched, reflecting near- universal perceptions that the economics of the government corn program and divergent demand fundamentals will boost corn acreage at the expense of soybean land.

Analysts pegged U.S. soybean acreage at an average of 58.468 million acres, down from 60.67 million acres in 1989. The 28 estimates ranged from 57.5 to 59.4 million acres.

Corn plantings were pegged at 75.207 million acres, up from 72.296 million a year ago, with 29 estimates ranging from 74 million to 77.2 million.

HOUSE APPROVES PLAN

FOR SOYBEAN RESEARCH

WASHINGTON - The House of Representatives Wednesday approved a national soybean check-off plan that would require all U.S. soybean producers to contribute a small portion of their sales to fund market research and development programs.

The soybean check-off bill, which passed by a vote of 416-9, now goes to the Senate for approval. However, for the check-off to be implemented, two- thirds of U.S. soybean producers must approve of the plan in a national referendum.

Following that action, the Department of Agriculture would establish the United Soybean Board. Representatives would be appointed to the board in proportion to each state's share of national production.