U.S. wheat output dropped
Private analytical company Informa Economics estimated U.S. winter wheat production for 2013 at 1.494 billion bushels, down from the firm's May forecast of 1.529 billion, trade sources said Wednesday.
By class, Informa pegged U.S. production of hard red winter wheat at 778 million bushels, 2.5% below the firm's May estimate, but 9.6 million above the U.S. Department of Agriculture's May forecast. Hard red winter wheat yields are forecast to average 36.9 bushels per acre, 3.8 bushels per acre below last year.
Soft red winter wheat production is forecast to total 505 million bushels, 3 million below the company's May estimate but 85 million above last year. The soft red wheat yield is projected to average 60.2 bushels per acre, 0.1 bushel below last year.
Hard red winter wheat is milled into flour used to make bread, and soft red winter wheat is used to make pastries and snack foods.
The white wheat production is forecast to total 211 million bushels, 5.6 million below last month's USDA estimate and 11 million below last year.
The USDA is slated to update its production forecasts on June 12.
Informa forecast Brazil's soybean production at 82 million metric tons, 15.6 million metric tons above last year, but unchanged from last month.
The company pegged Brazil's all corn production at 78.5 million metric tons, 2.2 million above Informa's previous forecast.
For Argentina, Informa estimated soybean production at 50 million metric tons, down 3 million from Informa's previous estimate.
Argentina's corn harvest is forecast at 25.5 million metric tons, unchanged from last month.
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(END) Dow Jones Newswires
June 05, 2013 12:29 ET (16:29 GMT)