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US corn, soy planting estimates up

U.S. corn and soybean planting estimates are up from previous forecasts, according to an Allendale Inc. survey, and wheat plantings will increase for the third consecutive year. The corn forecast is now at 96.956 million acres, down from 2012’s 97.155 million acres and above the 96.5 million that the U.S. Department of Agriculture forecast on February 22.

U.S. corn and soybean planting estimates are up from previous forecasts, according to an Allendale Inc. survey, and wheat plantings will increase for the third consecutive year.

The corn forecast is now at 96.956 million acres, down from 2012‚Äôs 97.155 million acres and above the 96.5 million that the U.S. Department of Agriculture forecast on February 22. Soybean plantings will rise to 78.324 million acres from 77.198 million in 2012, according to Allendale‚Äôs survey. The USDA February estimate said that 77.5 million acres would be sown in 2013.

The combined area planted with all wheat varieties is expected to rise to 56.261 million acres from 55.736 million in 2012. In February, the USDA said farmers would sow 56 million acres.

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