Ag Industry Searching For Data After Reports Not Released by USDA
When the USDA announced last week that a slew of key farm reports would not be released on Friday due to the partial government shutdown, the phones at crop forecaster Gro Intelligence blew up, write P.J. Huffstutter and Tom Polansek on Reuters.com.
The USDA was set to release its views on the projected size of U.S. soybean stockpiles, among other data, following a record-large domestic harvest and a trade war with China that has slowed U.S. exports.
Commodity traders, economists, grain merchants, and farmers are anxious for crop updates as they work to project their financial balance sheets and make spring planting decisions.
“It’s been crazy busy,” said Sara Menker, chief executive of New York-based Gro Intelligence.
The shutdown, now in its third week, has rippled across the already struggling U.S. farm economy ahead of President Donald Trump’s planned address at the American Farm Bureau conference in Louisiana on Monday. Federal loan and farm aid applications have also been delayed.