Bare Knuckles Ag ™

2020 outlook

USDA’s latest 10-yr projections bullish for meat exports

Each February, USDA updates its 10-yr projections for agriculture in general and the year-by-year supply/demand and price outlook for all major crops. The latest came out Feb. 14 entitled “USDA Agricultural Projections to 2029”. The report is commonly referenced as…
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Pick one: Either USDA is too bearish or some 2020 crop futures too strong.

Background: I plugged Friday’s November WASDE numbers for 2019-20 and USDA’s recent initial “baseline” balance sheets for 2020-21 corn, wheat and soybeans into my WASDE Wizard ® forecasting model under 3 weather scenarios with interesting results. The next three tables…
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