U.S. farmers boost corn plantings; cut soy acreage- government
U.S. farmers planted more corn than they had initially planned to this year in order to take advantage of strong prices for the grain, the government said on Thursday.
U.S. soybean acreage was lower than the U.S. Agriculture Department's March outlook.
USDA said in a report that corn plantings totaled 89.921 million acres and soybean plantings totaled 88.325 million acres. Analysts were expecting the report to show corn acreage at 89.861 million and soybean acreage at 90.446.
In March, USDA said that farmers had planned to plant 89.490 million acres of corn and 90.955 million acres of soybeans.