USDA is wrapping up the survey work ahead of Tuesday’s crop production report.
They have been gathering counts, taking measurements, and harvesting samples for that analysis in the USDA laboratories.
Lance Honig with the National Ag Statistics Service says that with harvest mostly complete their numbers should be fairly accurate.
“We’ve been busy reaching out to about 8,000 producers across the country asking them to give us updates on their expectations on yield for the season... in most cases these producers are actually giving us yield information based on their actual harvest results,” Honig states. “In addition to that we’ve also got our trained enumerators out in nearly 4,000 sample plots, specifically for corn, soy, and cotton across major growing areas.”
USDA’s Outlook Chairman says that forecasting market situations is difficult due to how dynamic the markets are right now.
