AGRIBUSINESS: Informa Updates 2014 Acreage Numbers

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Informa Economics pegs its 2014 U.S. corn plantings at 93.3 million acres, which is a slight increase from their earlier estimate of 91.8 million acres, but still well below last year's 95.4 million acres.

In soybeans, Informa estimates 81.3 million acres; a decrease from the earlier 81.9 million acre figure, but significantly larger than 76.5 million acres planted by American farmers in 2013.

Meantime, Brazilian consultancy Safras has estimated this marketing year's corn crop out of Brazil at 75.8 million metric tons, higher than USDA's best guess of 70 MMT, and smaller than last marketing year's figure of 82.1 MMT.

The soybean harvest in Mato Grosso in western Brazil is estimated at 4% complete, as compared to the average of 3% by this date.