The big surprise in the flurry of USDA numbers was with corn acreage. USDA is forecasting corn at just over 90 million acres. That’s down 4.6 million from last year and is 1.7 million acres below the average trade guess. Soybean plantings are estimated at 86.5 million acres, which was in line with trade expectations. The next estimate of planted acreage will be released at the end of June when more will be known about the impact of weather and field conditions.
