Corn Falls to 12-Week Low as U.S. Farmers Plant More Than March Forecast

(Bloomberg) -- Corn plunged to a 12-week low in
Chicago after the government said U.S. farmers planted more
acres than forecast in March and the most since 1944.

U.S. farmers, the world's largest corn growers, planted
92.888 million acres this year, 19 percent more than last year,
the Department of Agriculture said. The increase was sparked by
the highest prices in a decade, which made corn as much as $200
an acre more profitable than other crops. Prices have dropped 19
percent in the past four months as planting increased.


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