This month’s WASDE will reflect Ukraine conflict, but not prospective planting
USDA will release its latest forecast for the World Supply and Demand Report on Friday.
Unlike last month’s forecast, this one will reflect the situation in Ukraine.
According to USDA’s Mark Jekanowski, “There’s no way to not continue to look at those supplies and make some assumptions based on whatever information we can get in terms of the amount of supplies still on hand in Ukraine and in Russia, and if for how are supplies going to enter the world market.”
While it will include the Russian invasion, Jekanowski says that Friday’s report will not include the latest prospective plantings forecast.
“We still have old year supplies that we’re thinking through about how those get used, get dispersed, and especially globally, there’s just too much uncertainty to start thinking about the new crop year quite this early.”
USDA will have new prospects for South American crops, U.S. exports, and season-average prices.
USDA: Prospective Planting Report is not final word on acreage
War in Ukraine is causing pain at the pump; producers are looking at an expensive planting season