Thursday, August 6, 2009

Breaking News-RTRS-UPDATE 2-Informa raises 2009 U.S. corn crop estimate

CHICAGO, Aug 5 (Reuters) - Analytical firm Informa Economics has raised its estimate for the 2009 U.S. corn harvest, reflecting bigger yields as the crop is experiencing little to no heat stress this summer, trade sources said on Wednesday.
The firm trimmed its soybean output forecast to reflect fewer harvested acres, down about 200,000 acres from the U.S. Department of Agriculture's current forecast of 76.5 million.
Informa kept its August corn and soy forecasts conservative, holding them in line with what it expects USDA to project in its Aug. 12 crop report, traders said.
This will be the first USDA crop forecasts based on actual field surveys.