CHICAGO (Reuters) — Private analytics firm Informa Economics raised its forecast for 2014 U.S. soybean production following a U.S. government report that showed record seedings of the oilseed, trade sources said.
Informa predicted the soybean harvest this fall would reach 3.7 billion bushels, up from its previous estimate of 3.591 billion bushels. It left its outlook for soybean yield unchanged at 44.5 bushels per acre.
For corn, Informa trimmed its production outlook to 13.731 billion bushels from 13.766 billion but raised its yield forecast by 1.5 bushels per acre to 165.
