Informa Economics IEG updated its U.S. planted acreage projections today. The firm now estimates corn plantings will total 89.716 million acres, which is a decline from its 90.774 million-acre projection in March and nearly a 4.3 million-acre drop from year-ago.
The firm projects soybean plantings will total 89.662 million acres, which would be up 994,000 acres from its March projection. This would be a dramatic increase from plantings of 83.433 million acres last year.
Farmers will likely sow 10.888 million acres to other spring wheat this year, according to Informa. This would be a 717,000-acre drop from 2016 plantings.
Informa raised its cotton plantings estimate to 12.238 million acres, which is an increase of 1.135 million acres from its March projection and a 2.165 million-acre surge from 2016.
