CHICAGO, Oct 16 (Reuters) - Crop forecaster Lanworth on Wednesday trimmed its forecast for world corn production by 1 million tonnes after lowering its outlook for the crop in Brazil.
Lanworth pegged the 2013/14 world corn harvest at 952 million tonnes compared with its earlier outlook of 953 million tonnes. It put Brazil production at 73.8 million tonnes, down from its estimate of 74.1 million tonnes issued a week ago.
“Exceptionally high corn inventories in Brazil could eventually lower South America corn planted area,” Lanworth said in a report.
It left its outlooks for world soybean production and world wheat production unchanged at 706 million tonnes and 286 million tonnes, respectively.
A Lanworth spokesman said the reported estimates are the midpoints of confidence ranges. Lanworth is part of Thomson Reuters Commodities Research and Forecasts.
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