FCStone pegs U.S. corn yield at 121.4 bu/ac
Commodities brokerage INTL FCStone Inc. (INTL) on Wednesday forecast the U.S. corn crop's yield at 121.4 bushels an acre and total production at 10.607 billion bushels.
The U.S. Department of Agriculture last month forecast a yield of 123.4 bushels an acre and production of 10.779 billion bushels.
INTL FCStone forecast the U.S. soybean crop's yield at 36.7 bushels an acre and total output at 2.739 billion bushels. The USDA last month forecast a soybean yield of 36.1 bushels an acre and output of 2.692 billion bushels.
The USDA is due to update its crop forecasts on Sept. 12 in its monthly supply-and-demand report.
Analysts this summer cut their forecasts for the corn and soy crops due to the worst U.S. drought in decades damaging crops in the Midwest, but rains picked up in August and benefited soy crops in some regions.
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(END) Dow Jones Newswires
September 05, 2012 17:22 ET (21:22 GMT)