Informa cuts U.S. soybean production forecast to 4.327 billion bushels
Foreign media, October 10 news: Well-known private analyst firm Informa (currently a subsidiary of Essence Huamai) expects U.S. soybean production in 2022/23 to be 4.327 billion bushels, down from an earlier forecast of 4.378 billion bushels. Yields are forecast at 49.9 bushels per acre, down from an earlier forecast of 50.5 bushels per acre. Informa projects 2022/23 U.S. corn production at 13.839 billion bushels, down from an earlier forecast of 13.944 billion bushels, and average corn yields at 171.2 bushels per acre, down from an earlier forecast of 172.5 bushels per acre.
The U.S. Department of Agriculture will release its monthly supply and demand report on Wednesday. Industry organizations on average expect the U.S. Department of Agriculture to raise U.S. soybean production on Wednesday and lower U.S. corn production.