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Nation’s Wettest 12-Month Period on Record Slows Down 2019 Planting Season

The contiguous United States recently completed its wettest May to April period on record, according to the National Oceanic and Atmospheric Administration’s National Centers for Environmental Information (NOAA/NCEI). From May 2018 to April 2019, an average of 36.20 inches of precipitation fell across the Lower 48 states, 6.25 inches above the 20th century mean. In fact, it was the nation’s wettest 12-month period on record, regardless of which months are chosen.

“Agriculture and Commerce:” Tennessee Remains Strong in the Changing Face of Agriculture

Since 1801, Tennessee’s motto has been “Agriculture and Commerce.” As we see in the latest Census of Agriculture results, our farmers do their part keep our motto alive, with agriculture remaining the number one industry in the state. In 2017, our state’s farmers and ranchers sold more than $3.8 billion in agricultural products.

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.