USDA Out With February Crop Production Numbers

With much of the news pertaining to end of year domestic crop production as supply and demand estimates last month, February's USDA production forecast was relatively quiet.  One commodity of note in the crop production forecast this month was oranges. The all orange forecast down 1% from January.  The adjustments come from changes in Florida’s production forecast; all oranges down 4% from the previous forecast, fueled by a 10% month-over-month reduction in Valencia orange production.  

Changes at U.S. crop supply and demand estimates this month featured a ten cents per bushel increase in the season ending average price for corn. The season ending average price for soybeans was lowered ten cents from January.

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