Grain trade expects lower yields in Wednesday's update

USDA will release updated crop forecasts in a monthly supply-and-demand report due Wednesday at 7:30 a.m. CDT.

Compiled by staff

Published: Sep 10, 2012

Analysts expect the U.S. Department of Agriculture to cut its forecasts for the country's corn and soybean harvests when it issues new estimates Wednesday, according to a poll by Dow Jones Newswires.

On average, analysts said they expect the agency to lower its forecast for the national average corn yield this year by 2.3%, to 120.6 bushels an acre from 123.4 bushels an acre, due to the country's worst drought in decades, the
Dow Jones survey found. Estimates by 19 analysts ranged from yields of 117.6 bushels to 123.4 bushels an acre.

Analysts on average expect the USDA to cut its forecast for total corn production by 3.5%, to 10.403 billion bushels from 10.779 billion.

For soybeans, analysts on average expect the USDA to trim its yield forecast by 1.7%, to 35.5 bushels an acre from 36.1 bushels an acre. Estimates in the poll ranged from 32 bushels to 36.7 bushels an acre--including two estimates that the government will actually raise its yield forecast.

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