Farmers missing USDA crop report during government shutdown
Wed, 09 Oct 2013 20:20:48 GMT —
There's a growing concern among farmers who rely on the USDA's monthly crop report.
The latest report was set to come out this Friday, but due to the government shutdown which includes portions of the USDA, that won't be the case.
A lack of a crop report means the Board of Trade will only be able to speculate the current supply and demand for our local crops, rather than make that decision on an informative report.
"We don't really know specifically what the corn crop or bean crop is going to yield this year. When they did the report a month ago, it wasn't mature. Today's mature. We could get a real good indication what corn's going to yield, what beans are going to yield if we can get the USDA to perform that function. They're not performing that function right now, so that leaves a big question mark on the Board of Trade on what the supply of corn and beans are going to be," University of Illinois Crop Specialist Mike Roegge said.
USDA has up to 10 days of data collection and analysis yet to perform before it can estimate the size of fall-harvested U.S. crops.
In the absence of USDA reports, private forecasters and consultants have taken a larger role in marketing.