The USDA says farmers planted more corn and soybeans in 2021 than in 2020, but planted area was less than what most analysts were expecting heading into the report.
Corn acreage was reported at 92.692 million acres, about a million fewer than what analysts were expecting, but up 2% on the year, with harvested area seen at 84.495 million acres, also up 2%.
Soybean planted area is pegged at 87.555 million acres, below all estimates, but up 5% from a year ago, with harvested area of 86.720 million acres, compared to 82.318 million.
