How is USDA determining their estimates for today’s WASDE preview?
The latest WASDE report is out today and it will predict the size of spring crops, trade, and of course, the impacts of the situation out of Ukraine.
There has been a lot of uncertainty surrounding USDA forecasts this year. The war, weather, and skyrocketing input costs have all led to instability in the market, but today, the Department hopes to help producers get a more clear picture.
USDA Outlook Board Chairman Mark Jekanowski tells us how they are determining their estimates.
“We’re focused on Northern Hemisphere crops, those spring crops that are developing, the wheat harvest in the U.S., and Europe, Russia, and Ukraine as well. That second-crop corn harvest continuing underway, that has important implications for global supplies.”
What can we expect in the WASDE preview in terms of Ukrainian grain production and exports?
WASDE Watch: The war in Ukraine is sparking interest in South America’s corn crop in upcoming report