This week’s Acreage report from USDA, the first of the growing season to estimate final planted acreage, shows U.S. acreage planted to corn up 1 percent from last year. That number is especially significant since delays in planting raised concerns that farmers might have shifted significant acreage from corn to soybeans, potentially driving corn prices higher. Corn acreage, estimated at 87 million acres, is the second-largest planted acreage since 1946, behind 2007. Soybean acreage, meanwhile, is up 2 percent, wheat acreage is down 5 percent and cotton acreage is down 4 percent.

Read the full report.