US crop production forecast takes a downtown

According to private analysts, projections for corn are lower but on the other hand, the forecast for soy has a better outlook in 2009.

Both estimates were larger than the U.S. Department of Agriculture's (USDA) projections in November. The analysts, Informa Economics, pegged the corn crop at 12.97 billion bushels, up 47 million from the USDA's November forecast but down from the firm's November estimate of 13.64 billion.

The soy crop is estimated at 3.42 billion bushels, up from Informa's November estimate of 3.333 billion and 102 million bushels more than the USDA's November forecast.

Meanwhile, the firm is expecting corn acreage to increase in 2010 while soy acreage falls slightly.

Informa projects 2010 corn planted acres at 89.5 million, up from the USDA's estimate of 86.4 million in 2009.

Soy acres are projected at 77.0 million for 2010, up from the USDA's estimate of 77.5 million planted acres in 2009.

Informa also expects winter wheat acreage to fall, to 39.446 million in 2010 from 43.311 million in 2009.