U.S. Farmers Reduce Corn Acres as Soy Plantings Rise to Record

U.S. farmers planted fewer acres of corn than the government estimated three months ago while soybean plantings rose to a record, the Agriculture Department said.

Corn, the nation’s biggest crop, was sowed on 88.9 million acres compared with a March 31 projection of 89.2 million, the USDA said Tuesday in a report released in Washington. Soybeans, the No. 2 crop, were seeded on 85.1 million acres, up from 84.6 million estimated in March.

Wheat plantings are estimated at 56.1 million acres, an increase from 55.4 million acres estimated in March, while cotton was seeded on 9 million acres, a drop from the earlier forecast of 9.55 million acres.

Warm, wet weather affected plantings throughout much of the continental U.S., with the biggest exception being the Pacific Coast, where drought persisted.

A separate report released showed supplies of corn on June 1 at 4.447 billion bushels, up from 3.852 billion a year earlier. Soybean stockpiles as of June 1 were 625.4 million bushels, compared with 405 million a year earlier, the USDA said. Demand for both crops in the second quarter of 2015 was higher than a year ago, the department said.