Lanworth cuts world corn production view due to U.S. delays

Wed Jun 5, 2013 8:30am EDT
 
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CHICAGO, June 5 (Reuters) - Crop forecaster Lanworth cut its forecast for world corn production on Wednesday by 4 million tonnes to 961 million tonnes due to planting delays that reduced expectations for the size of the U.S. crop.

Lanworth also affirmed its earlier world production outlooks of 286 million tonnes of soybeans and 694 million tonnes of wheat.

Lanworth trimmed its U.S. corn harvest outlook to 13.8 billion bushels, 1 percent below its previous estimate, due to expectations for an 800,000-acre cut to plantings. The acreage losses were expected in Iowa, Missouri and Wisconsin.

Lanworth also said planting delays would lead to a loss of 1 million soybean acres and reduced its U.S. soybean production view to 3.40 billion bushels from 3.43 billion bushels.

It cut its 2013/14 U.S. wheat production forecast to 1.45 billion bushels, down 1 percent from its last estimate, to reflect expectations for a loss of 700,000 acres of spring wheat in North Dakota.

Lanworth raised its expectation for Australia's 2013/14 wheat harvest by 3 percent to 24.8 million tonnes and cut its forecast for 2013/14 Canadian wheat production by 1 percent to 27.9 million tonnes.

Lanworth is a brand of Thomson Reuters Commodities Research and Forecasts. A Lanworth spokesman said the reported estimates are the midpoints of confidence ranges.

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