Production Projections and Trade Adjustments

Abstract

<p>As the leaves change color and the temperatures fall, traders in agricultural markets concentrate on production and usage figures for crops and livestock. With the delays in crop planting and the uncertainty surrounding trade, USDA has had a more difficult time than usual estimating the supply and demand projections for the various agricultural markets. However, these estimates are under intense scrutiny as farmers enter the fields for harvest and trade representatives from China and the United States meet. Each month, USDA updates the supply and usage projections, and the October update sent mixed signals through the markets.</p>