Firm trims corn, soybean crop guesses
Private analytical firm Informa Economics on Friday forecast that U.S. soybean and corn production this year will be smaller than previously predicted, according to traders.
Informa forecast a soybean yield of 42.4 bushels an acre, down slightly from their August projection of 42.7 bushels. For total production, the firm expects a total of 3.239 billion bushels, down from 3.266 billion bushels last month, according to traders.
The U.S. Department of Agriculture last month forecast this year's national soybean yield at 42.6 bushels an acre, and total output at 3.255 billion bushels.
Informa forecast a corn yield of 157.2 bushels an acre, down from their estimate of 158.6 last month, and total production this year of 14.013 billion bushels, down from 14.14 billion bushels, according to traders.
The USDA last month forecast this year's national corn yield at 154.4 bushels an acre, and total output at 13.763 billion bushels.
The USDA will update its forecasts in a monthly supply-and-demand report on Sept. 12.
Write to Kelsey Gee at Kelsey.Gee@wsj.com
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(END) Dow Jones Newswires
September 06, 2013 12:23 ET (16:23 GMT)
DJ Informa Reduces U.S. Soy, Corn Crop Production Estimates - Traders->copyright