Private analytics firm IHS Markit Agribusiness on Wednesday raised its estimate of U.S. corn plantings to 90.965 million acres, according to Reuters, up 455,000 acres from its forecast in late May. In March, USDA estimated corn plantings at 89.490 million acres.
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IHS forecast soybean plantings at 88.735 million acres, down 280,000 acres from last month and below USDA’s March estimate of 90.955 million acres.
It projected U.S. spring wheat (excluding durum) plantings at 10.490 million acres, up 340,000 from its previous forecast but below USDA’s March estimate of 11.200 million acres.
IHS projected U.S. all-cotton plantings at 12.126 million acres, below USDA’s March estimate of 12.234 million acres.
