IARN — The May WASDE report is among the most highly anticipated reports of the year. That’s because this is the first WASDE report to include information about the current year’s crop. It was even more anticipated this year due to the current global and macroeconomic conditions. There’s a lot of potential in the grain markets this year, so farmers and analysts alike wanted to know if this year’s crop will live up to it.
Today’s report fell mostly within expectations. However, there were a few surprises, particularly when it comes to projected yields. Allendale commodity broker Greg McBride said the USDA made a major decrease to yield projections, but he feels like it’s a little early.
For more on this story, visit the Iowa Agribusiness Radio Network.
Photo courtesy of the U.S. Department of Agriculture (USDA)
