CHICAGO (Reuters) — Crop forecaster Lanworth trimmed on Wednesday its estimate of the 2013-14 global wheat crop by one million tonnes due to lower-than-expected production in Australia and Argentina.
Lanworth said it expects the 2013-14 world wheat harvest to reach 706 million tonnes. It also affirmed its earlier estimates of world corn production and world soybean production for the period at 963 million tonnes and 289 million tonnes, respectively.
For the 2014-15 crop year, Lanworth set its U.S. wheat production forecast at 63 million tonnes. It also said it expected Russian wheat production of 51.7 million tonnes and Ukraine wheat production of 23 million tonnes in 2014/15.
Lanworth is part of Thomson Reuters Commodities Research and Forecasts. A Lanworth spokesman said the reported estimates are the midpoints of confidence ranges.
