CHICAGO, July 11 (Reuters) - The U.S. Agriculture Department issued a surprise increase in its forecast of U.S. corn production Thursday, citing a bigger-than-expected June acreage report.
The USDA also lowered its forecast for soybean production.
The government said in its monthly supply and demand report that the 2019/20 U.S. corn harvest would total 13.875 billion bushels and the soybean harvest would total 3.845 billion bushels. Average yields were pegged at 166.0 bushels per acre for corn and 48.5 bushels per acre for soybeans.
In June, the USDA had pegged the corn harvest at 13.680 billion bushels and the soybean harvest at 4.150 billion bushels.
Analysts had expected the report to show a corn crop of 13.664 billion bushels, based on an average yield of 165.0 bushels per acre and a soybean crop of 3.883 billion bushels, based on an average yield of 48.6 bushels per acre, according to the average of estimates given in a Reuters poll. (Reporting by Mark Weinraub; editing by Jonathan Oatis)