Home / Markets / Markets Analysis / Informa lowers its crop estimates

Informa lowers its crop estimates

Agriculture.com Staff 08/03/2007 @ 10:00am

Informa, a private analytical firm, estimated Friday the U.S. 2007 corn crop at 13.09 billion bushels, lower than its previous 13.375 billion, but still higher than USDA's 12.840.

Informa pegged the U.S. corn yield at 153.3 bushels per acre, below its previous estimate of 156.6, and above USDA's 150.3.

For soybeans, Informa estimated the U.S. crop at 2.7 billion bushels, near its previous estimate of 2.719, and above USDA's 2.625. The private firm estimated a soybean yield average of 42.7 bushels per acre, slightly below its previous estimate of 43.0, and above USDA's 41.5 bushels per acre.

Meanwhile, Noel Blue, a Chicago Board of Trade floor trader and broker, said the recent crop estimates are not much different than trade expectations.

"This really isn't giving the markets any real shocking reason to rally or break," Blue said. "We are now awaiting midday weather to see if there are any increases or reduction in precipitation, and an ease in temperatures."

The weather is taking the spotlight away from the Informa numbers, said Blue. "The numbers just didn't scare any traders into taking an aggressive stance either way, as the corn and bean figures are in line with expectations."

Blue added, "We are still sitting in a midday lull, unfortunately. By the last 45 minutes of the session, we should be able to determine the trend going into the weekend, which will likely continue into the next week. Traders have a bias to the upside for the soy complex, and slightly neutral to corn at these levels. Technical traders are slightly bullish corn and soy. I remain bullish wheat, putting more emphasis on the global supply/demand picture of Europe, Asia and Canada."

The USDA will release new crop size estimates for corn, soybeans and wheat next August 10, at 7:30am CST.

Informa, a private analytical firm, estimated Friday the U.S. 2007 corn crop at 13.09 billion bushels, lower than its previous 13.375 billion, but still higher than USDA's 12.840.

CancelPost Comment
MORE FROM AGRICULTURE.COM STAFF more +

Farm and ranch risk management resources By: 07/07/2010 @ 9:10am Government resources USDA Risk Management Agency Download free insurance program and…

Major types of crop insurance policies By: 07/07/2010 @ 9:10am Crop insurance for major field crops comes in two types: yield-based coverage that pays an…

Marketing 101 - Are options the right tool… By: 07/07/2010 @ 9:10am "If you are looking for a low risk way to protect yourself against prices moving either higher or…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Farm Bill 2014 Timeline