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Us grain analysts reduce US soybean and corn production forecast

 Last Update: 2002-08-15
 Source: Internet
 Author: User

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Introduction: Reuters, Chicago, August 8th, Reuters, Chicago, August 8th Following the hot weather in the Midwest of July, US grain analysts agreed that the US Department of agriculture will reduce the forecast of corn soybean yield in next Monday's supply and demand report, with the largest reduction in corn production CFV but CBOT floor traders on Thursday said USDA's crop cuts may not be as large as private analysts had predicted, despite the damage to crop growth caused by the weather CFV analysts forecast corn production in the range of 8.865 to 9.3 billion bushels, with an average of 9.11 billion bushels, lower than the Department of agriculture's July forecast of 9.79 billion bushels CFV analysts forecast soybean production in the range of 2.636 billion to 2.776 billion bushels, with an average of 2.722 billion bushels, lower than the 2.86 billion bushels predicted by the Ministry of agriculture in July CFV's corn and soybean production in the United States last year were 9.507 billion bushels and 2.891 billion bushels, respectively CFV entered a critical period of soybean growth in August, so analysts reduced soybean yield less The CFV market forecasts an average yield of 127.3 bushels per acre for corn, which is lower than the 135.8 bushels predicted by the Ministry of agriculture in July, and 37.784 bushels per mu for soybean, which is lower than the 39.7 bushels predicted by the Ministry of agriculture cFV
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