CHICAGO (Reuters) — Private analytics firm Informa Economics lowered its estimates of soybean production in Argentina and Brazil, the firm said in a note to clients on Tuesday.
The firm cut its estimate of Argentina’s 2013-14 soy crop to 54 million tonnes, from 57 million previously, citing smaller planted area and reduced yield potential. For Brazil, Informa lowered its soybean crop estimate to 88.8 million tonnes, from 89.7 million previously.
On corn, Informa lowered its 2013-14 production estimate for Brazil to 65.45 million tonnes, from 66.55 million previously. The firm left its estimate of the 2013/14 Argentine corn crop unchanged at 22.6 million tonnes.
Informa raised its forecast of India’s 2014-15 wheat production to 108 million tonnes, up nine million from its previous figure.
