A key US government report on Friday is expected to accelerate demand for corn as it confirms that corn farmers will produce a record crop this year.

Traders forecast that the acreage and stocks report from the US Department of Agriculture will confirm expectations that farmers have planted more than the 90.5m acres of corn, as indicated by a survey in March. The report will also provide updates on the shrinking soybean crop and a wheat harvest expected to be hit by a cold snap after Easter.