Supply and Demand Forecast
A lot of new information about last season’s crops and what’s upcoming in 2022 is expected tomorrow when the National Agricultural Statistics Service releases its crop Supply and Demand Forecast.
USDA Outlook Board Chairman Mark Jekanowski spoke to the agency’s news service and says last month there wasn’t much new to say about domestic ag supply.
Jekanowski: “ This time we get a lot of new information. The NASS crop production report will include the final production estimates for all the major fall-producing crops so we’ll include that. We also get the stocks data from NASS so we’ll also be incorporating that. This stocks report is a helpful benchmark along the way.
The report will include where we are after the first 3 months of the marketing year for grain stocks.
The USDA’s new forecast for supplies, exports, prices will be released tomorrow.
The USDA is also preparing for the 98th Agricultural Outlook Forum. It will be a virtual event held on February 24-25. The 2022 Forum theme is “New Paths to Sustainability and Productivity Growth.” The USDA says the program will focus on innovations to minimize the environmental footprint of agriculture and ensure sustainability while improving crop yields.
