Lanworth raises Australia wheat production forecast


CHICAGO, Oct 30 (Reuters) - Crop forecaster Lanworth onWednesday raised its outlook for the Australian wheat harvest by2 percent because of better-than-average soil moisture inWestern Australia, Southern Australia and Victoria provinces.

Lanworth said it expects the country's 2013/14 wheatproduction to reach 25.294 million tonnes, up from its previousestimate of 24.822 million tonnes issued a week ago.

It reaffirmed its global crop production estimates of 955million tonnes for corn, 288 million tonnes for soybeans and 707million tonnes for wheat.

For the United States, Lanworth slightly increased its cornproduction estimate to 13.795 billion bushels, based on anaverage yield of 156.4 bushels per acre. Its previous forecastwas 13.792 billion bushels, based on an average yield of 156.2bushels per acre.

It left unchanged its U.S. soybean production estimate of3.215 billion bushels, based on an average yield of 41.8 bushelsper acre.

Lanworth is part of Thomson Reuters Commodities Research andForecasts. A Lanworth spokesman said the reported estimates arethe midpoints of confidence ranges.

The full report is available to Thomson Reuters EikonCommodities subscribers at:reuters://screen/verb=Open/

View Comments (0)