Fewer Corn Acres in FBN Survey

A new Farmers Business Network survey suggests U.S. farmers planted fewer corn acres and slightly more soybean acres than the USDA projected in March. Josh McClure, head of brokerage and consulting for FBN, said producers generally stuck with their original planting plans, but drought altered acreage in parts of the Plains. “Our producers are telling us they’re going to be planting roughly 1.2 million fewer corn acres than USDA suggested, effectively cutting off something like 180 to 200 million bushels of production.” McClure said the biggest acreage reductions occurred in Nebraska, the Dakotas, parts of Missouri and Kansas. USDA releases its acreage report Tuesday morning.