CHICAGO (Reuters) -- The Linn Group, a Chicago-based commodity research and brokerage firm, forecast the 2010 U.S. corn crop at 13.016 million bushels, with an average yield of 160.7 bushels per acre (bpa).

The Linn Group is now forecasting the 2010 U.S. corn crop at 13.016 million bushels and the soybean crop at 3.399 billion bushels. (DTN file photo)

The figures were down from the firm's August forecast, which pegged the corn yield at 162.1 bpa and production at 13.127 billion bushels.

The estimates also came in below the U.S. Department of Agriculture's August corn production forecast of 13.365 billion bushels, with an average yield of 165 bpa. USDA was scheduled to release updated estimates on Sept. 10.

The Linn Group estimated the 2010 U.S. soybean crop at 3.399 billion bushels, with an average yield of 43.6 bpa.

Its soybean forecast was up slightly from August, when the firm pegged the crop at 3.331 billion bushels with an average yield of 43.2 bpa.

USDA last month forecast U.S. soybean production at 3.433 billion bushels with a yield of 44.0 bpa.

The Linn Group attributed the reduction in its corn estimate to hot and dry weather in the past month.

"Extreme variability remains the feature in the U.S. corn crop this year," the firm said in a statement. "Hot, dry, and windy conditions across the Midwest, particularly in the Eastern belt, have led many corn plants to shut down early."

"Soybean yield expectations remain uncertain, although our ideas have firmed in the last month," the firm said. "These plants are still filling out, and can yet be positively impacted by rain this week, or negatively impacted by the lack thereof."

The firm said its forecasts were based on customer input, field observations, weather analysis and satellite data.

CHICAGO (Reuters) -- Commodity brokerage firm FC Stone on Wednesday said it cut its estimate of the U.S. 2010 corn crop to 13.195 billion bushels, with an average yield of 162.9 bushels per acre (bpa).

The figures were down from Stone's August corn production estimate of 13.430 billion, with a yield of 165.8 bpa.

Stone projected the 2010 U.S. soybean crop at 3.390 billion bushels, down from 3.428 billion in August. The firm lowered its soybean yield estimate to 43.5 bpa, from 44.0 last month.

The forecasts compared with the U.S. Department of Agriculture's current corn production forecast of 13.365 billion bushels, with an average yield of 165.0 bpa.

Stone's soybean output figure was below USDA's current soybean production forecast of 3.433 billion bushels, based on an average yield of 44.0 bpa.

USDA was scheduled to release updated crop forecasts on Sept. 10.

(AG)