January 9, 2009
US '08 corn pegged at 12 billion bushels; soy, 2.95 billion bushels
Private analytical firm Informa Economics pegged the 2008-09 soy crop at 2.95 billion bushels and the corn crop at 12 billion bushels, traders said Thursday (January 8).
Informa estimated the soy yield at 39.7 bushels per acre. Both total production and yield for soy were higher than estimates by any of the 14 analysts surveyed by Dow Jones Newswires this week.
The corn yield was projected at 153.5 bushels per acre. Both corn estimates were slightly above other analysts' average projection.
The US Department of Agriculture in November estimated soy production at 2.921 billion bushels with a yield of 39.3. Corn was estimated at 12.020 billion bushels total production with a yield of 153.8 bushels per acre. The USDA will issue revised figures Monday at 8:30 a.m. EST.
Informa didn't issue 2009 estimates, a trader said.
