Farmers favor corn over soybeans this year

The U.S. Agriculture Department says Minnesota farmers intend to plant more corn this year than they did in 2012.

The USDA surveyed Minnesota farmers in February and the results show they intend to plant 3 percent more corn compared to last year. That's a bigger increase than the nation as a whole, where corn acres are expected to grow less than 1 percent.

North Dakota shows the sharpest increase in corn planting of the major grain producing states. Farmers there intend to increase their corn acres by 14 percent.

Farmers are growing more corn because it's bringing big profits. The drought last year cut production and pushed corn prices to record levels.

Minnesota farmers are expected to reduce their soybean crop slightly as as they shift acres to corn. The state's wheat acreage though should rise, up 1 percent over last year.