USDA Collecting Data on Grains

The USDA is collecting data on grains and grain storage for a report that will be released at the end of the month.

Joe Parsons with the USDA’s National Agricultural Statistics Service said it’s critical to get an accurate portrayal of the industry.

“For corn, soybeans and other spring-seeded crops, we’re about halfway through the marketing year so the grain stocks that we’ll be picking up from farmers and ranchers really detail about what’s left in storage as we head for this next season’s harvest and how much of that is getting consumed. What the disappearance has been.”

Those numbers can have major impacts on the commodity markets if the numbers are unexpected.

The data will give info on how much grain is still left over from last year and the acreage planted for this year.