Informa ups corn, soybean estimates
Informa Economics, a private forecaster, projected that the 2013 U.S. corn crop totaled a record 14.2 billion bushels, higher than federal forecasters' most recent estimate, traders said Friday.
Informa forecast a crop 173 million bushels larger than the U.S. Department of Agriculture estimated in November. The company projected the U.S. corn yield at 161.6 bushels per acre, up 1.2 bushels from the USDA's forecast, citing higher expected yields in Ohio and North Dakota.
Informa pegged U.S. soybean production for 2013 at 3.33 billion bushels, which is 71 million over the USDA's estimate, traders said.
Informa estimated that U.S. soybean yields averaged 44 bushels per acre, 1 bushel above the USDA's forecast.
The U.S. Department of Agriculture is scheduled to release its final crop-production estimates for 2013 for corn and soybeans on Jan. 10.
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(END) Dow Jones Newswires
January 03, 2014 11:57 ET (16:57 GMT)
DJ Informa Pegs 2013 U.S. Corn Crop at 14.2 Billion Bushels--Traders->copyright