CHICAGO (Reuters) — Crop forecaster Lanworth on Wednesday raised its forecast of the U.S. 2014 soybean yield to 46.7 bushels per acre, from 46.4 previously.
Lanworth, a unit of Thomson Reuters, projected U.S. soybean production of 3.855 billion bushels, up from its previous estimate of 3.806 billion, issued on Aug. 11.
For corn, Lanworth lowered its forecast of the U.S. 2014 yield to 174.5 bpa, down from 174.8 previously but still a potential record high. Lanworth estimated U.S. corn production at 14.734 billion bushels, below its Aug. 11 figure of 14.766 billion.
Lanworth’s yield estimates for soybeans and corn are both above the U.S. Department of Agriculture’s latest figures. The USDA this month projected the U.S. corn yield at 167.4 bpa, above the historic 2009 high of 164.7, and production at 14.032 billion bushels.
USDA projected the soybean yield at 45.4 bpa and production at 3.816 billion bushels. The government is scheduled to release updated crop estimates on Sept. 11.
Lanworth is part of Thomson Reuters Commodities Research and Forecasts.
