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Shining Light on Farm & Food Policy for 20 Years.
Sunday, May 19, 2024
July reports from the Department of Agriculture offered little surprise to traders, including when USDA stuck with the much-maligned June Acreage report data.
The Department of Agriculture projects higher corn ending stocks, which would be the second largest on record behind 2016/17, in this month’s World Agriculture Supply and Demand report.
As trade disputes eroded major markets for American soybeans, U.S. producers grew more of the crop than ever befor e,according to Department of Agriculture data released Friday.
There were few major surprises in the last WASDE report of 2018, released Tuesday, with estimates of corn production and soybean production unchanged from November.
USDA cut its forecasts for soybean exports for the current marketing year to 1.9 billion bushels, down 160 million bushels from the October projection, citing lower imports from China, which is engaged in tit-for-tar tariff war with the U.S.
Big crops keep getting bigger, farmers say, and that looks to be the case this year. USDA today raised its harvest estimate for corn and soybeans, which were already forecast to be in record or near-record territory.