Private analytical firm Informa Economics raised its outlook for U.S. corn plantings in 2012 and lowered projected soybean acreage for the second consecutive month on Friday, traders said.

Informa, a closely watched crop forecaster, projected corn plantings of 94.389 million acres, according to traders, up from a November estimate of 94 million. Farmers planted an estimated 91.9 million acres in 2011, according to the U.S. Department of Agriculture.

The firm projects soybean acreage of 74.608 million, down from a November estimate of 76.1 million and an estimate of 77 million the month before that.

Analysts say the potential returns on corn planting has remained more favorable than for soybean planting, although some have warned that futures prices for next year's crop could limit farmers' enthusiasm for corn. December corn futures, which reflect next year's supply, were recently trading at $5.46 1/2 a bushel at the Chicago Board of Trade, compared to $5.82 1/2 for the March contract, which reflects 2011 harvested supplies.

--By Ian Berry, Dow Jones Newswires; 312-750-4072; ian.berry@dowjones.com

(END) Dow Jones Newswires

December 16, 2011 12:41 ET (17:41 GMT)