CHICAGO (Dow Jones) — Private analytical firm Informa Economics estimated U.S. winter wheat production for 2012 at 1.656 billion bushels, up from the firm’s April 4 forecast of 1.631 billion, trade sources said Friday.
By class, Informa pegged U.S. production of hard red winter wheat at 1.008 billion bushels, soft red winter wheat at 421 million and winter white wheat at 227 million.
The firm forecast U.S. seedings of spring wheat at 13.476 million acres, up from U.S. Department of Agriculture’s March estimate of 11.976 million.
Informa also adjusted its estimates of U.S. corn and soybean plantings for 2012. The firm pegged U.S. 2012 corn plantings at 96.124 million acres, up from its March figure of 95.5 million and above USDA’s March 30 forecast of 95.864 million.
Informa forecast U.S. 2012 soybean plantings at 75.822 million acres, up from its previous forecast of 75.1 million and up from USDA’s March 30 figure of 73.902 million.
SOUTH AMERICAN CROPS
Informa forecast Brazil’s 2011/12 soybean production at 66 million tonnes, on par with USDA’s latest estimate.
The firm pegged Brazil’s corn crop at 66 million tonnes, above USDA’s April estimate of 62 million.
For Argentina, Informa estimated 2011/12 soybean production at 40 million tonnes, below USDA’s April estimate of 45 million. Informa estimated the Argentine corn crop at 21.5 million tonnes, on par with USDA’s latest forecast of 22.0 million.
USDA was scheduled to release its next U.S. and world supply/demand report on May 10.
Source: Dow Jones
Posted by Haylie Shipp