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Commodities

Informa pares Argentina, Brazil soy crop forecasts -trade sources

Soybean plants are harvested at a field in the city of Chacabuco, April 24, 2013. REUTERS/Enrique Marcarian

CHICAGO (Reuters) - Informa Economics, a private analytics firm, on Tuesday lowered its estimate of 2015/16 soybean harvest in Brazil and Argentina, trade sources said.

In a monthly report, the firm projected Argentina’s 2015/16 soybean harvest at 55.0 million tonnes, down from 59.5 million previously, they said.

The firm trimmed its figure for Brazil’s 2015/16 soybean production to 100.1 million tonnes from 100.5 million previously, they added.

Informa also left its forecast of Argentina’s corn crop unchanged at 27.5 million tonnes, a trade source said.

Informa estimated Brazil’s all-corn harvest at 81.0 million tonnes, down from 83.7 million last month, the source said. The figure included 27.5 million tonnes of first-crop corn and 53.5 million tonnes of second-crop corn.

A spokesman for Informa Economics said “no comment” when asked about the corn forecasts data.

Informa raised its forecast of U.S. 2016/17 winter wheat production to 1.405 billion bushels from 1.377 billion previously, trade sources added.

The U.S. Department of Agriculture is scheduled to release its monthly supply/demand reports on May 10, including the government’s first official forecasts of U.S. and world crop production for 2016/17.

Reporting by Julie Ingwersen; Editing by James Dalgleish and W Simon

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