FC Stone Drops Corn Estimate And Raises Soybeans

FC Stone Monday dropped its 2008 US corn production estimate to 11.99 billion bushels, down from the firms last month estimate of 12.026 billion bushels.

Soybean output was raised from 2.889 billion bushels to 2.916 billion.

Both estimates are below the current UDSA projections.

The USDA in October estimated 2008 U.S. corn production at 12.033 billion bushels, and soybean production at 2.938 billion bushels.

The USDA is scheduled to release revised estimates on Nov. 10th.

In 2007, US corn production was 13.074 billion bushels, and soybean production last year was 2.585 billion bushels.