Informa's corn yield is 1.4 bushels below its previous forecast, but almost 10 bushels below Informa's early season yield forecast. Informa's current corn yield is 12.5 bushels below the 166.0 yield assumed by U.S. Department of Agriculture in its June supply and demand report.
Informa's July state yield forecasts were reduced in nearly 20 states from Informa's early season trend with Kansas reduced the most, down 30 bushels. Other states where yield reductions from trend were near 20 bushels were Indiana, Illinois, Missouri and Kentucky, Informa said in the report according to traders.
Informa reduced yields between 5 and 10 bushels from trend in Ohio, Michigan, Wisconsin, Nebraska, Tennessee, Alabama, Arkansas, Louisiana, Oklahoma and Texas.
The July 1 soybean yield at 42 bushels an acre is down 0.7 bushel from Informa's previous forecast and would be 0.5 bushel above last year. Informa tempered its yield forecast for several states due to this season's below-average start, Informa noted in the report, traders said.
Informa noted conditions have been notably dry and warm in the eastern corn-belt as well as in the southern part of the western corn-belt. The Mid-South also has been dry and warm, stressing soybeans especially in Tennessee where 33 percent were rated in poor to very poor condition, Informa noted in the report, traders said.
USDA is scheduled to release its supply and demand projections July 11, 8:30 a.m. EDT (1230 GMT).
Last year, U.S. corn output measured 12.358 billion bushels, and soybean production came in at 3.056 billion.
