Market News

Farm Futures also anticipating lower corn acreage

Ahead of USDA’s planted area update June 30, Farm Futures Magazine expects the Ag Department to lower its corn acreage estimate by 3% following a wet spring in a number of critical growing areas.

Farm Futures has corn acreage at 82.47 million acres and soybeans at a record 79.631 million, up around 5% from USDA’s March estimate because of the delays in corn planting and problems with spring wheat planting. Spring wheat planted area is expected to be down 3.6% from March at 12.86 million acres.

The numbers are out at 7:30 AM Central on Tuesday, June 30.