USDA reports huge increase in corn acres

USDA released its Prospective Plantings report on March 30, declaring that U.S. corn growers intend to plant 95.9 million acres of corn for all purposes in 2012, up 4 percent from last year and 9 percent higher than in 2010. If realized, USDA said this will represent the highest planted acreage in the U.S. since 1937, when an estimated 97.2 million acres were planted.