Informa Economics raised its US 2017 corn production forecast to 14.166 billion bushels from 14.077 billion after incorporating revised acreage estimates that the US Department of Agriculture released last week, the private analytics firm said in a client note on Thursday. Informa also lowered its corn yield estimate to 169.7 bushels per acre from its mid-June figure of 170.0 bpa. The firm used the USDA's estimate of 83.496 million harvested acres.
For soybeans, Informa put US 2017 production at 4.253 billion bushels, near its mid-June forecast of 4.255 billion. It trimmed its soy yield estimate to 47.9 bpa from 48.0 bpa and took the USDA's figure of 88.731 million harvested acres. Informa estimated US all-wheat production at 1.783 billion bushels. The total consists of 1.281 billion bushels of winter wheat, 434 million bushels of spring wheat other than durum, and 67 million bushels of durum wheat. The USDA forecast the 2017 US corn crop at 14.065 billion bushels with an average yield of 170.7 bpa, and US soybean production at 4.255 billion bushels with an average yield of 48.0 bpa.