Corn Acreage Jump Predicted

Ahead of USDA’s Acreage Report, a new survey from Kluis Commodity Advisors and Successful Farming shows U.S. farmers planted over 1 million more corn acres than USDA previously projected. The combined corn and soybean acreage is now estimated at 179.3 million acres, up from 178.8 million in USDA’s March report, with most of the gain coming from a 500,000-acre drop in spring wheat. Kluis Commodity Advisors Managing Director Al Kluis says the higher corn acreage could lead to increased production and larger ending stocks, which would likely pressure prices.