ANALYSIS - Matt Roberts, agricultural economist at The Ohio State University, said global soybean demand from China has increased soybean acreage by 30 million acres, and US ethanol demand has increased corn demand by 20 million acres.
That increase of 50 million acres of crops is over twice as much as what the state of Illinois produces in a year. This demand has not only supported crop prices but land prices as well.
Roberts spoke in July at the Wyffels Corn Strategies Conference in Knoxville, Illinois, USA.
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