The markets are still working to digest all the trade action we have seen over the last month. Analysts say grain reports are still lagging behind that data, but economists with USDA say their livestock reports are starting to take that information into account.
“We assume ‘policy in place.’ So, tariffs that China has placed on us in retaliation, and the tariffs we have placed on them, are assumed to continue throughout the remainder of this marketing year and into next marketing year,” said Seth Meyer.
Corn is another area Meyer is watching. Last week’s WASDE report showed little changes, largely because exports to China have dropped, and the marketing year is nearly over.
Related Stories
Farm CPA Paul Neiffer joined us to break down the application process for Stages 1 and 2 of the USDA’s Supplemental Disaster Relief Program, and what farmers can expect as the deadline approaches.
$2 million project tests fogging system to stop the virus in poultry facilities
Overall, the report suggests a shift toward more comfortable supply levels, with demand emerging as a key factor to watch in the months ahead.
Lower shipping costs favor corn, while soybeans face pressure.
USDA Opens Base Acre Adjustments, Helping Farmers Secure Accurate Payments Based on Planting History
Farmers this year will finally be able to update their base acres with the USDA, something that experts warn must be done with complete accuracy.
Faster approvals could speed projects, but may face scrutiny.
