Soybeans being harvested in Argentina, March 29, 2010. (AP Photo/Diego Giudice)

Associated Press | U.S. farmers will plant a record soybean crop this year while also boosting corn acres by 3 percent, according to an Agriculture Department estimate. The increases could boost year-end reserves of the major food crops and ease fears of food shortages after high demand from the ethanol industry and overseas consumers drew down supplies two years ago.

Crop futures fell Wednesday morning on the Chicago Board of Trade after the USDA estimate was released. Soybeans for May delivery fell 38 cents, or 3.9 percent, to $9.36 a bushel, and corn was down 8.5 cents, or 2.4 percent, to $3.46 a bushel. Wheat fell 10.5 cents, or 2.2 percent, to $4.615 a bushel.