U.S. planting area shrinks by one million acres, Chicago soybean and wheat prices jump in response

```htmlGolden Ten Data reported on April 1 that Chicago grain prices have risen, as U.S. planting acreage falls short of expectations, intensifying concerns over food production triggered by the Middle East conflict. After soybean planting acreage came in at 84.7 million acres—disappointing traders—the U.S. Department of Agriculture reported that soybean prices have further expanded their gains. Wheat planting acreage stands at 43.8 million acres, also below analysts’ expectations. StoneX Chief Commodity Economist Arlan Suderman wrote in his report that the combined acreage of wheat, corn, and soybeans is about 1 million acres less than expected. He added that the decline in wheat acreage aligns with global trends. This disappointing report may further heighten risks to global food output, as the month-long U.S.-Israel war against Iran has driven up energy and fertilizer prices, threatening global food production. Rising costs will not only squeeze farmers’ profits, but also push up food inflation and ultimately harm the global economy.```