USDA's estimated April placements down 0.9% from last year, whereas traders expected a 4.6% decline, on average.
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Wheat futures faced followthrough selling pressure overnight, while corn also traded lower. Soybeans have turned mixed after earlier weakness.
The Rural Mainstreet Index finds loan volumes up on increased input costs.
Big weekly gains in cash prices for corn, soybeans and wheat.
Drought still covers two-thirds of U.S. winter wheat area.
If the forecast verifies, it suggests crop stress could develop across the western Corn Belt and persist in the Southern Plains
China continues to buy sizable quantities of U.S. old-crop soybeans, accounting for more than half of the weekly total.
Wheat and corn futures faced continued pressure from Wednesday’s losses overnight, while soybeans traded mixed.
