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Production estimates lowered by private firms

posted on October 7, 2011

Production estimates lowered by private firms

Noting the impact of a mid-September freeze in parts of the northern plains, Informa Economics cut its estimates this week on total U.S. corn production and yield.

According to Informa, America's farmers will harvest just over 12.5 billion bushels of corn this fall on an average yield of 149.5 bushels per acre.  That's one-and-a-half fewer bushels per acre than the private firm estimated previously. 

Though both figures represent a reduction, they're still slightly higher than the Agriculture Department's official estimates released last month.

Informa projects U.S. soybean production at 3.085 billion bushels on an average yield of 41.8 bushels per acre.   That mirrors the government's current guess on yield and, if realized, would be about 2 million bushels less than USDA's stab at total production. 

Informa's estimates are also in line with those of another closely watched firm, FCStone, which earlier this week predicted average yields of 148.7 and 42.8 bushels per acre for corn and beans respectively.

USDA is scheduled to release its latest estimates on domestic and global crop production next Tuesday.  

Tags: agriculture corn crops farmers news production soybeans