Supply Forecast To Be Released Tuesday

USDA's new supply forecast will be released Tuesday.  This will allow the ag industry a look at exports and prices for most major U-S crops for the next marketing year.  The USDA's Seth Meyer said providing a forecast this season has proven difficult.

"Weather concerns playing off of trade concerns and which one wins out the day tells you which way prices may be moving. Then you'll get really great crop conditions, but there will be some news story about trade friction, and you'll end up with either an increase or a decline on the day with all this mixed news. So, it's really been a fascinating year so far in watching these factors. But I think that reveals the fact that there is a lot of anxiety amongst U.S. producers at the moment."

And among traders, Meyer said his group does not base its forecast on tariffs that might happen or anxiety in the market.

"If there's something going on in the market which reflects this anxiety, and it shows up in the market, that obviously we incorporate."

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