(Bloomberg) -- Corn is again the top US crop after soaring grain prices motivated farmers to shrug off weather woes and high fertilizer prices to plant more than expected.
Corn seedings are now seen at 89.9 million acres, up slightly from 89.5 million acres estimated in March, according to the US Department of Agriculture’s updated planting report. Soybean sowings fell to 88.3 million acres from 91 million acres previously.
Most-active corn futures have climbed about 9% since the start of the year, close to an all-time high, after Russia’s invasion of Ukraine upended grain shipments out of the Black Sea region.
“The higher acreage reflects an improvement in corn prices between March and June, and supply-chain disruptions that led to availability problems in getting chemicals for soybeans,” said Kevin McNew, chief economist at agriculture-tech firm Farmers Business Network.
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