FC Stone pegs US corn at 12 billion bushels

The firm pegged the 2008-09 US soy crop at 2.889 billion bushels, with a yield of 39.4 bushels per acre.

All of the estimates represent a decrease from the firm's previous estimates. In September, FC Stone projected a corn crop of 12.159 billion bushels, with a yield of 153.4 bushels per acre.

FC Stone's September estimate for soy was 3.003 billion bushels, with a yield of 41.0 bushels per acre.

The USDA in September estimated 2008 US corn production at 12.072 billion bushels, with a yield of 152.3 bushels per acre. Soy production was pegged at 2.934 billion bushels, with a yield of 40.0 bushels per acre.

The USDA is scheduled to release updated estimates in October 10.

In 2007, US corn production was 13.074 billion bushels, with a yield of 151.1 bushels per acre. Soy production last year was 2.585 billion bushels, with a yield of 41.2 bushels per acre.