March 28 (Bloomberg) -- Cotton fell, snapping a two-day rally, after the government said U.S. farmers will plant more than forecast in February.

About 10.026 million acres of cotton will be planted this year, the U.S. Department of Agriculture said today in a report based on a survey of growers. While thatΆs down 19 percent from 12.315 million in 2012, it was higher than the governmentΆs Feb. 22 forecast of 10 million acres. Farmers are shifting to more profitable crops, including corn and soybeans, which plunged in price today after the USDA issued a stockpile report.

“With those markets being down, that means youΆve got plenty of time for cotton to gain more acres,” Sharon Johnson, a senior market specialist at Knight Futures in Roswell, Georgia, said in an e-mail.

Cotton for delivery in May slid 0.1 percent to settle at 88.46 cents a pound at 2:30 p.m. on ICE U.S. Futures in New York, after rising as much as 2 percent to 90.27 cents. Prices gained 2.2 percent in the previous two days, and ended the quarter up 18 percent, the biggest such increase in two years.