USDA Outlook

Despite lower U.S. wheat production forecasted this month, the world is still expected to grow a record wheat crop this new marketing year.   “We raised our production forecast by 2.1 million tons this month.  So now we're looking at 798.3 million tons ...

Will the nation's farm sector generate yet another record amount of net income in 2023 as it's done the last two years?   “No, but the expectation is it will still be an above average year.”   USDA chief economist Seth Meyer told the USDA Outlook Forum last week that he expects net cash farm income this year to be $150.5 billion, which, if ...

Consumers will likely have few meat selections at their local grocery in 2023, and U.S. production is forecast lower next year.   “The main reduction year-over-year in terms of meat supplies is coming from is coming from beef," according to USDA Outlook chairman Mark Jekanowski.  He added it’s...