CHICAGO (Reuters) - Commodity brokerage INTL FCStone on Tuesday projected U.S. 2017 corn production at 13.590 billion bushels, with an average yield of 162.8 bushels per acre (bpa).
The company forecast this year’s U.S. soybean harvest at 4.235 billion bushels, with an average yield of 47.7 bpa.
The estimates, based on customer surveys and other factors, are what the company predicts will be final production, not what they expect the U.S. Department of Agriculture to say in a monthly supply and demand report due next week.
The USDA in July estimated the U.S. corn crop at 14.255 billion bushels, with a yield of 170.4 bpa, and the soybean harvest at 4.260 billion bushels with a yield of 48.0 bpa.
Reporting by Julie Ingwersen; editing by Diane Craft