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USDA: corn acres down, soybeans up in 2024

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The USDA expects farmers to plant fewer acres of corn and more acres of soybeans in 2024.

Corn planted area is projected at 90.036 million acres, at the low end of pre-report guesses and 5% less than 2023, with acreage steady to lower in 38 of the 48 states used in the estimation.

That includes potentially the lowest expected planted area in Iowa since 2006 and the highest for Minnesota since 1958.

USDA: corn acres down, soybeans up in 2024