Indiana Farm Bureau’s Chief Economist Todd Davis is offering up his insights on the latest World Agricultural Supply and Demand Estimates (WASDE) report released earlier this afternoon by the U.S. Department of Agriculture (USDA).
“The predictions in the June acreage report were fairly accurate,” said Dr. Davis. “There was an increase in the Indiana corn crop - about 7.6% larger than last year. USDA projects the soybean crop in Indiana to be slightly lower – about 2% smaller than last year.”
According to Dr. Davis, there may be a pricing opportunity for soybeans. Corn is in a rebuilding year, so that will provide headwinds for getting higher prices. However, profitability margin concerns will continue for corn and soybeans.
Source: infarmbureau.org
Photo Credit: gettyimages-fstop123
Categories: Indiana, General