The USDA says farmers planted more corn and fewer soybeans than expected.
2023 corn planted area is the third largest on record at 94.096 million acres, 2.096 million above the prospective planting report and up 5.52 million from 2022. 93% of that is biotech, unchanged from last year. The 2023 total includes 2.491 million acres of corn that were not planted as of June 1st. Harvested area is seen at 86.322 million acres, compared to 79.207 million a year ago.