More Crop Acres Than Expected

There were several surprises in the USDA'S June Crop Acreage Report.
The first dealt with corn were the USDA revised upward its planted acreage by
2 million acres to 87 million. Their reasoning, a rally in corn prices during that period where it was too wet to plant but still not to late to stay with corn 
allowed growers to stay with corn instead of switching to beans.
The second surprise was the soybean figure. Despite the increase in corn acreage, soybeans remained at 77 1/2 million acres, a record total. Reaction by the trade has been positive and soybeans have seen mostly double digit gains.
And the third surprise was the wheat. Acres will be down from 2008 levels but still at nearly 60 million acres, the figure was much higher than the USDA had projected back in March.
As for the quality of the crop, 57% of the corn and 60% of the beans are rated good and 24% of the corn and 17% of the soybeans are rated excellent.