Private analytics firm Informa Economics revised upward its forecast for the US 2018 corn yield to 176.0 bushels per acre (bpa), from 174.5 bpa previously, and raised its US soyabean yield forecast to 49.8 bpa from 49.5 bpa, the firm said on Thursday in a client note seen by Reuters.
Informa projected US 2018 corn production at 14.392 billion bushels and soyabean production at 4.425 billion bushels.
The yield figures are above the US Department of Agriculture's (USDA) current estimates of 174.0 bpa for corn and 48.5 bpa for soyabeans.
The USDA, which will release updated forecasts on Thursday, July 12, put the US 2018 corn crop at 14.040 billion bushels and soyabean production at 4.280 billion bushels.
Informa projected total US wheat production for harvest in 2018 at 1.869 billion bushels. The figure includes 1.192 billion bushels of winter wheat, 604 million bushels of spring wheat other than durum and 74 million bushels of durum wheat.
On the global front, Informa said it lowered its estimate of Russia's 2018-19 wheat production to 67 million tonnes, down 6 million tonnes from its previous forecast.
Informa also raised its estimate of Brazil's 2017-18 soyabean harvest to 118.5 million tonnes, up 500,000 from last month. The firm lowered its estimate of Brazil's 2017-18 all-corn harvest to 82 million tonnes, down 3 million from its previous figure.
Informa officials were not immediately available to comment on the figures.