Informa Economics, a private forecaster, projected that the 2013 U.S. corn crop totaled a record 14.2 billion bushels, higher than federal forecasters' most recent estimate, traders said Friday.
Informa forecast a crop 173 million bushels larger than the U.S. Department of Agriculture estimated in November. The company projected the U.S. corn yield at 161.6 bushels per acre, up 1.2 bushels from the USDA's forecast, citing higher expected yields in Ohio and North Dakota.
Looking ahead: Running 2014 cost of production numbers
Informa pegged U.S. soybean production for 2013 at 3.33 billion bushels, which is 71 million over the USDA's estimate, traders said.
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