Reuters ahead on closely watched U.S. crop forecast

Reuters beat Dow Jones by 17 minutes in reporting a closely watched private forecast on May 6 of the U.S. winter wheat crop, which was far below most trade expectations. Once Reuters snapped Informa Economics first 2009 wheat production estimates of the season, wheat cash and futures markets reacted immediately — building in premium and helping lift Chicago Board of Trade wheat prices early in the session. Private production forecasts are released before USDA`s May 12 winter wheat estimates.