In its monthly World Agriculture Supply and Demand Estimates report, USDA lowered its estimated U.S. corn planted area by 1.5 million acres from March intentions to 90.7 million acres. Planting delays through early June in the eastern Corn Belt and northern Plains are expected to reduce planted area, more than offsetting likely gains in the western Corn Belt and central Plains where planting was ahead of normal by mid-May. Soybean planting area remains unchanged.

For Winter Wheat USDA is forecasting production of 1.45 billion bushels, up 2 percent from the May 1 forecast but still 2 percent below 2010. The United States yield is forecast at 45.3 bushels per acre, up 0.8 bushel from last month but 1.5 bushels less than last year. Expected area for harvest as grain or seed totals 32.0 million acres.

Hard Red Winter production, at 777 million bushels, is up 2 percent from a month ago. Soft Red Winter production is up 2 percent from last month and now totals 434 million bushels. White Winter production totals 240 million bushels, up 2 percent from last month. Of this total, 11.6 million bushels are Hard White and 228 million bushels are Soft White.