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commodities

Abundant Supplies are Forecast for the Coming Crop Year in the U.S. and Around the World

It’s a new year at USDA, at least for those of us forecasting agricultural commodity markets. Every May, the World Agricultural Outlook Board (WAOB) in the Office of the Chief Economist releases USDA’s initial projections of the markets for the crops and livestock that will be produced and harvested in the new crop year. WAOB develops USDA’s official forecasts by coordinating Interagency Commodity Estimates Committees (ICECs) to compile the latest and most comprehensive information and intelligence available from across USDA agencies. On May 10, USDA released its World Agricultural Supply and Demand Estimates (WASDE) report with these estimates for the 2019/20 crop year. The report also includes updated information on the 2018/19 and previous marketing years, but the early assessment of the “new crop” is a focal point of the May report.

Where Do Americans’ Food Dollars Go?

In 2017, consumers in the United States spent $1.2 trillion on U.S.-produced food. Nearly all food starts out on a farm, but did you ever wonder how the value added from processing, packaging, transporting, and marketing agricultural food products factors into the costs?

USDA Expert Helps Shape Global Agricultural Outlook Report

Each year, agricultural experts from around the world gather in Paris to crunch numbers, analyze trends, and produce a 10-year global agriculture outlook report. I was among those analysts, and today, we unveiled our collective efforts in the OECD-FAO Agricultural Outlook 2018-2027.