While the recent USDA acreage report was widely discounted, that data will be used to produce this week’s supply/demand report. “Absolutely, we will use the NASS information as the foundation for the decisions we make in the July WASDE,” said Seth Meyer, chairman, World Ag Outlook Board. USDA will resurvey 14 states to update the acreage numbers this month. Meyer says resurveys aren’t uncommon. “They resurveyed in 2015; they resurveyed for the acreage report in 2013; they resurveyed in 2011. Clearly, the size of this year’s survey is unprecedented, but it is not unprecedented to go out and resurvey. USDA will release its latest supply/demand report on Thursday.
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.