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UPDATE 1-StoneX trims U.S. 2022 corn production estimate but raises yield

(Adds details on USDA acreage figures)

CHICAGO, Oct 4 (Reuters) - Commodity brokerage StoneX on Tuesday lowered its estimate of U.S. 2022 corn production to 14.056 billion bushels, down from 14.168 billion in its previous monthly report released on Sept. 1.

But the firm raised its estimate of the average U.S. corn yield to 173.9 bushels per acre (bpa), from 173.2 previously.

For soybeans, StoneX lowered its forecast of the U.S. 2022 yield to 51.3 bpa from its Sept. 1 figure of 51.8. The firm forecast U.S. soybean production at 4.442 billion bushels, down from 4.515 billion previously.

StoneX bases its production figures on the U.S. Department of Agriculture's harvested acreage estimates. The government on Sept. 12 cut its estimate of harvested corn acreage to 80.8 million acres, from 81.8 million previously. The monthly acreage reduction offset the higher StoneX corn yield estimate, resulting in a lower StoneX production estimate for corn.

The USDA last month also lowered its estimate of harvested soybean area to 86.6 million acres, from 87.2 million previously. The USDA is scheduled to release updated crop estimates on Oct. 12. (Reporting by Julie Ingwersen Editing by Chris Reese and Josie Kao)

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