CHICAGO, Sept 10 (Reuters) – The U.S. government boosted its forecast for the country’s corn harvest on Friday as farmers devoted more acres of the grain that previously reported.
The domestic soybean production outlook also was raised after some timely rains in August, a critical development month for the oilseed.
U.S. corn production will reach 14.996 billion bushels, based on an average yield of 176.3 bushels per acre, according to the U.S. Agriculture Department’s monthly World Agricultural Supply and Demand Estimates report. Soybean production was seen at 4.374 billion bushels on an average yield of 50.6.
In August, USDA forecast corn production of 14.750 billion bushels and soybean production of 4.339 billion. Yields were seen at 174.6 and 50.0, respectively.
(Reporting by Mark Weinraub)
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