1.   A separate government report today shows why farmers are expanding corn acreage.

2.   Corn acreage rose in the South, largely on prospects of higher prices.

3.   The company said that growth in the U.S. was lagging because of reduced corn acreage.

4.   Pressure from slow exports and rainy weather forecasts for Argentina were offset by expectations for a crop estimate reduction and smaller U.S. corn acreage.

5.   Rainy-weather forecasts for the Midwest also weighed on prices, since more planting delays could result in additional corn acreage being switched to soybeans.

6.   Soybeans rose on the steady planting progress in the corn belt, which decreases chances that significant chunks of corn acreage will be switched over to soybeans.

7.   Soggy weather in parts of the corn belt has delayed planting and fueled anticipation that some farmers will turn over corn acreage to soybeans instead.

8.   Soybean futures were pressured by concerns that the same precipitation would cause farmers to turn more of their corn acreage over to soybean plantings, increasing acreage.

9.   The seed industry had expected more than half the U.S. corn acreage to be planted with biotech hybrids within the next few years.

10.   The USDA report also confirmed that farmers are cutting back on overall corn acreage this year largely because of higher energy and fertilizer prices and switching to soybeans.