USDA's crop-planting intentions report for 2009 indicates farmers plan to plant 76 million acres of soybeans compared to 75.5 million in 2008. This would be the third-largest planted area on record.

In addition, producers intend to plant 85 million acres of corn, down 1% from last year, but still the third-largest acreage since 1949.

Wheat acres are expected to decline 7% from last year to 58.6 million acres, and cotton acres are expected to be at the lowest level since 1983 at 58.6 million acres.