December 15, 2017 / 6:10 PM / a year ago

Informa ups U.S. 2018 soy plantings forecast: trade

CHICAGO (Reuters) - Private analytics firm Informa Economics raised its forecast of U.S. 2018 soybean plantings to 91.387 million acres, a potential record high, and trimmed its 2018 corn plantings projection to 89.675 million acres, according to an Informa client note obtained by Reuters on Friday.

Informa also lowered its estimate of U.S. winter wheat plantings for harvest in 2018 to 31.093 million acres, down from its month-ago figure of 31.923 million.

Reviewing the most recent U.S. harvest, the firm put the 2017 corn yield at 176.6 bushels per acre, above the U.S. Department of Agriculture’s last estimate of 175.4, a second Informa client note said.

Informa estimated 2017 corn production at 14.676 billion bushels, compared to the USDA’s figure of 14.578 billion.

For soybeans, Informa put the 2017 soybean yield at 49.7 bushels per acre, up from the USDA’s last figure of 49.5. The firm put soybean production at 4.450 billion bushels, compared with the USDA’s estimate of 4.425 billion.

The USDA is scheduled to release its first estimate of U.S. winter wheat seedings for harvest in 2018, along with revised estimates of 2017 crop production, on Jan. 12.

Informa officials were not immediately available to comment.

Reporting by Julie IngwersenEditing by Chizu Nomiyama

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