CHICAGO (Reuters) — Private analytics firm Informa Economics lowered its forecast of U.S. 2013 corn production to 13.80 billion bushels, from 14.013 billion previously, trade sources said on Tuesday.
The firm also lowered its 2013 U.S. soybean crop estimate to 3.22 billion bushels, from its Sept. 6 estimate of 3.239 billion.
An Informa official had no comment on the numbers.
In a note to clients the firm said its forecasts were based on acreage adjustments indicated by data released Tuesday by the U.S. Department of Agriculture’s Farm Service Agency, combined with the firm’s current yield estimates.
Informa’s figures compare with the USDA’s current forecasts for 2013 corn production of 13.843 billion bushels and soybean production at 3.149 billion bushels.
Informa in its note also estimated U.S. all-wheat production for the 2013-14 marketing year at 2.08 billion bushels, below the USDA’s current forecast for 2.114 billion bushels.
The USDA is scheduled to release updated crop forecasts on Oct. 11.