U.S. winter wheat crop lowered, analyst says
Private analytical firm Informa Economics estimated U.S. winter wheat production for 2013 at 1.529 billion bushels, down from the firm's April 3 forecast of 1.631 billion, trade sources said Friday.
By class, Informa pegged U.S. production of hard red winter wheat at 798 million bushels, 206 million below last year. Hard red winter wheat yields are forecast to average 35.8 bushels per acre, 4.9 bushels below last year. Soft red winter wheat production is forecast to total 508 million bushels, 88 million above last year. The soft red wheat yield is projected to average 60.0 bushels per acre, 0.3 bushel below last year.
The white wheat production is forecast to total 222 million bushels, about equal to last year.
Informa estimated 2012 all cotton production at 17.31 million bales, 296,000 bales more than the U.S. Department of Agriculture's January forecast but unchanged from Informa's April estimate.
Informa forecast Brazil's 2012/13 soybean production at 82.5 million metric tons, 750,000 below Informa's previous forecast.
The firm pegged Brazil's all corn production at 76.3 million metric tons, 1.7 million above Informa's previous forecast.
For Argentina, Informa estimated 2012/13 soybean production at 53 million metric tons, up 1.0 million from Informa's previous estimate. If realized, Informa's 53.0-million-ton forecast would be 12.9 million metric tons above last season's weather-reduced crop.
Argentina's corn harvest is forecast at 25.5 million metric tons, up 200,000 from last month.
USDA is scheduled to release its next U.S. and world supply/demand report on May 10.
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(END) Dow Jones Newswires
May 03, 2013 12:10 ET (16:10 GMT)