USDA's May crop reports feature the agency's first official forecasts of new crop supply and demand, and this year those estimates are even harder than usual to predict. While the government's projection of winter wheat production is based on actual surveys, hard weather and spring wheat flooding makes any total production estimate iffy at best. For corn and soybeans numbers are usually statistical guesses, but could also be affected by the late spring. Senior Editor Bryce Knorr and Market Analyst Paul Burgener present Farm Futures forecasts and what they could mean for the markets.
Watch the conversation using the video link below.
Bryce Knorr, Senior Editor, Farm Futures, first joined Farm Progress Cos. in 1987. In addition to analyzing and writing about the commodity markets, he is a former future introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Market Review on FarmFutures.com, he writes weekly reviews for key commodities and crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.
Market Analyst Paul Burgener is a new addition to the Farm Futures team but has a solid ag economics history. A former University of Nebraska research coordinator and ag economist from the University of Wyoming, Burgener brings a lot of background to his new role. Most recently, he was also involved in agricultural finance, and will offer that perspective in future articles on the Web and in print too.