Lanworth boosts U.S. corn harvest outlook to 14 bln bushels<TRI.TO>
CHICAGO, July 31 (Reuters) – Crop forecaster Lanworth on
Wednesday raised its outlook for U.S. corn production by 2
percent as cool temperatures across key growing regions boosted
the potential for strong yields.
Lanworth said it expected the 2013/14 U.S. corn crop to be
14 billion bushels, based on an average yield of 158.5 bushels
per acre. It had previously forecast U.S. corn production of
13.65 billion bushels.
Lanworth’s new estimate for world corn production was 965
million tonnes, up 9 million from the outlook it issued two
The forecaster trimmed its estimate of U.S. soybean
production to 3.310 billion bushels from 3.315 billion, warning
that the outlook was dependent on rainfall and temperatures
during August. Late planting and dry weather in the past month
have raised concerns about the crop in states such as Illinois,
Iowa, Kansas, Nebraska, Minnesota and North Dakota.
U.S. soybean yields were pegged at 42.9 bushels per acre.
Lanworth lowered its forecast for Russian wheat production
to 48.4 million tonnes from 50.0 million tonnes due to concerns
that a shift to warm and dry conditions could limit production
of spring wheat in the Volga District.
Estimates for world wheat production and world soybean
production for the 2013/14 crop year were left unchanged at 694
million tonnes and 283 million tonnes respectively.
Lanworth is a brand of Thomson Reuters Commodities Research
and Forecasts. A Lanworth spokesman said the reported estimates
are the midpoints of confidence ranges.