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USDA sees more corn

DANIEL LOOKER 06/28/2013 @ 11:10am Business Editor

USDA has an astounding estimate for planted corn acres today: 97.4 million acres, up slightly from last year. This is above the top end of analysts' expectations of 96.4 million acres and well above average prereport guess: 95.34 million acres. USDA says this is the most planted since 1936.

Soybean planted area for 2013 is estimated at a record high 77.7 million acres, up 1% from last year.

All wheat planted area for 2013 is estimated at 56.5million acres, up 1% from 2012.

The big loser in acreage is cotton: down 17% from 2012 at 10.3 million acres.

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