Lanworth sees 2013/14 China corn crop up 4 percent

CHICAGO, March 27 Wed Mar 27, 2013 8:29am EDT

CHICAGO, March 27 (Reuters) - Crop forecaster Lanworth said on Wednesday it expects China's corn harvest to rise 4 percent to 216 million tonnes in the 2013/14 crop year due to increased acreage and good soil moisture.

Lanworth pegged Ukraine's corn production at 26.4 million tonnes, up 26 percent from a year earlier as the country recovered from drought. The forecaster reaffirmed its Ukraine wheat production outlook of 23.3 million tonnes and bumped up its Russian wheat production estimate to 50.4 million tonnes from 49.8 million tonnes.

It reaffirmed its expectation for a 2013/14 U.S. corn harvest of 13.640 billion bushels, based on acreage of 96.498 million acres. Soybean production was pegged at 3.455 billion bushels and acreage at 81.256 million, unchanged from earlier estimates.

Lanworth left its estimates of corn and soybean production in Argentina unchanged at 25.5 million tonnes and 50.5 million tonnes, respectively.

It reaffirmed its outlook for soybean production in Brazil at 81.1 million tonnes. Its corn harvest estimate for that country also was left unchanged, at 76.4 million tonnes.

Lanworth is a brand of Thomson Reuters Commodities Research and Forecasts. A Lanworth spokesman said the reported estimates are the midpoints of confidence ranges and are best understood in the context of Lanworth's full report.

The report is available to Thomson Reuters Eikon Commodities subscribers at: