Tuesday morning, the USDA is set to release its monthly forecast on crop supply and demand which includes forecast and price forecasts for crops like corn, soybeans, wheat, and and cotton.
But as the USDA’s Mark Jekanowski pointed out.
“February is typically a pretty light month in terms of new information, particularly on the domestic side.”
The acting Chairman said the main influences for the demand on US crops will be southern hemisphere competitors.
“So we’re looking closely at Brazil and Argentina. Soybean harvest is well under way in Brazil and that’s a second crop, corn, is going in right after the soybeans. So we’re looking down there at weather, and crop conditions, and the size and the quality of that crop coming off the field.”
Jekanowski is also hopeful in Tuesday’s report, USDA analysts will reveal the likelihood China will make the purchases agreed in Phae One as well as the impact coronavirus is having on international trade.