In its Prospective Plantings Report, USDA estimated corn acreage at 95.3 million acres, larger than the average trade guess of 94.5 million acres. The 95.3 million total is the same estimate issued in March of last year, which proved to be a historic underestimation. The soybean planted area forecast is lower than most traders expected at 84.7 million. The Agriculture Department estimates the acreage total for the three major wheat categories to be at the lowest level since these records began in 1919.
