The USDA says American farmers will increase the amount of soybeans seeded this spring while lowering corn acreage.

The forecast is that soybean acreage will rise to 88.0 million from 87.2 million last year.

Corn plantings are expected to be at 92.0 million acres compared to 93.4 million in 2021.

Total U.S. wheat plantings for 2022/23 were projected at 48 million acres, up from 46.7 million in 2021/22.

The USDA's annual Agricultural Outlook Forum got underway Thursday morning.