USDA Analysts are getting ready to produce the new round of monthly crop supply and demand forecasts tomorrow.
The Outlook Board Chairman Mark Jekanowski says they will be focused on production prospects for competing crops in South America and the market situation for last season’s crops.
“U.S. farmers are marketing the crops that they harvested this past fall, so we’re looking at the export pace for all of these commodities and trying to piece together what that means for our total volume of exports for the marketing year.”
USDA also released the cattle inventory report last week showing there were fewer cattle in the U.S. at the start of this year compared to last, and it seems the contraction will continue. Tomorrow’s report will reflect those numbers.
“For what it’s worth, most of the data within that cattle report seemed to fall pretty close to within industry expectations, so it was kind of viewed as a neutral report from the standpoint of the livestock market overall.”
The USDA will issue its new WASDE forecasts tomorrow at noon Eastern.
