June 30 (Bloomberg) -- Corn plunged by the Chicago Board of Trade’s limit after a government report showed U.S. farmers planted more acreage with the grain than estimated in March. Wheat and soybeans also tumbled on signs of increasing supplies.
About 87.035 million acres were planted with corn, the U.S. Department of Agriculture said today in a report following a survey of farmers. That was up 2.4 percent from the March forecast on growers’ intentions and 1.2 percent higher than 85.982 million last year. The average estimate of 24 analysts in a Bloomberg News survey was for 85.16 million acres. (more)
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