U.S. government raises corn harvest view, leaves soy crop forecast unchanged

CHICAGO, July 12 (Reuters) - The U.S. government raised its forecast for the country’s corn harvest on Monday, topping the average of analysts’ estimates despite some concerns about dry conditions in key growing areas during June.

The outlook for soybean harvest was left unchanged although that crop is still in early stages of development.

The corn harvest was seen at 15.165 billion bushels, based on an average yield of 179.5 bushels per acre, and soybean harvest at 4.405 billion bushels, based on a yield of 50.8 bushels per acre, according to the U.S. Agriculture Department’s monthly World Agricultural Supply and Demand Estimates report.

Analysts had been expecting corn production of 15.115 billion on a yield of 178.8 and soybean production of 4.394 billion on a yield of 50.7. A month ago, USDA forecast corn harvest at 14.990 billion on a yield of 179.5 and soybean harvest of 4.405 billion on a yield of 50.8. (Reporting by Mark Weinraub)