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INFB Chief Economist Offers Insights On May WASDE Report

May 12, 2023, 16:02 PM by Heidi Gant, INFB Marketing Team
Indiana Farm Bureau’s Chief Economist Todd Davis is offering up his insights on the latest World Agricultural Supply and Demand Estimates (WASDE) report released earlier this afternoon.

 

Contact:
Heidi Gant
317-692-7828
317-966-3719
hgant@infb.org

(Indianapolis) – May 12, 2023 – Indiana Farm Bureau’s Chief Economist Todd Davis is offering up his insights on the latest World Agricultural Supply and Demand Estimates (WASDE) report released earlier this afternoon.

According to Dr. Davis, “Corn stocks will increase 11 percent from the 2022 crop, and soybeans will increase about 5 percent. As we predicted from the prospective plantings report in March, we’re going to see lower prices and tighter margins.”

Dr. Davis added, “Money markets are cyclical, and we’ve enjoyed the profit margins in recent years. Now the cycle is coming down, so producers need to be more aware of expenses. Go back to some of your cost management practices and fine-tune your budgets.” He also noted that everything is still dependent on weather and the acreage report that will come from the U.S. Department of Agriculture (USDA) on June 30 will provide an updated outlook from actual planting data.

Read Dr. Davis’s full insights here.

The WASDE report is released monthly and provides annual forecasts for supply and use of crops. For more information about the WASDE process and data, visit the USDA’s FAQs page.

###

About Indiana Farm Bureau: For more than 100 years, Indiana Farm Bureau (INFB) has protected and enhanced the future of agriculture and our communities. As the state’s largest general farm organization, INFB works diligently to cultivate a thriving agricultural ecosystem to strengthen the viability of Indiana agriculture. Learn more at INFB.org.

 

INFB Chief Economist Offers Insights On May WASDE Report

May 12, 2023, 16:02 PM by Heidi Gant, INFB Marketing Team
Indiana Farm Bureau’s Chief Economist Todd Davis is offering up his insights on the latest World Agricultural Supply and Demand Estimates (WASDE) report released earlier this afternoon.

 

Contact:
Heidi Gant
317-692-7828
317-966-3719
hgant@infb.org

(Indianapolis) – May 12, 2023 – Indiana Farm Bureau’s Chief Economist Todd Davis is offering up his insights on the latest World Agricultural Supply and Demand Estimates (WASDE) report released earlier this afternoon.

According to Dr. Davis, “Corn stocks will increase 11 percent from the 2022 crop, and soybeans will increase about 5 percent. As we predicted from the prospective plantings report in March, we’re going to see lower prices and tighter margins.”

Dr. Davis added, “Money markets are cyclical, and we’ve enjoyed the profit margins in recent years. Now the cycle is coming down, so producers need to be more aware of expenses. Go back to some of your cost management practices and fine-tune your budgets.” He also noted that everything is still dependent on weather and the acreage report that will come from the U.S. Department of Agriculture (USDA) on June 30 will provide an updated outlook from actual planting data.

Read Dr. Davis’s full insights here.

The WASDE report is released monthly and provides annual forecasts for supply and use of crops. For more information about the WASDE process and data, visit the USDA’s FAQs page.

###

About Indiana Farm Bureau: For more than 100 years, Indiana Farm Bureau (INFB) has protected and enhanced the future of agriculture and our communities. As the state’s largest general farm organization, INFB works diligently to cultivate a thriving agricultural ecosystem to strengthen the viability of Indiana agriculture. Learn more at INFB.org.

 

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BakerColleen
Colleen Settle
Senior Public Relations Manager - Brand
emailcsettle@infb.org
location_onOffice: 317-692-7822
phoneMobile: 317-242-8907
Heidi Gant
Public Relations Manager - Public Policy
emailhgant@infb.org
location_onOffice: 317-692-7828
phoneMobile: 317-966-3719
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Ag in the Classroom

Agriculture in the Classroom is a grassroots agricultural outreach program for school children in grades Pre-K through 12, facilitated by Indiana Farm Bureau and coordinated nationwide by the United States Department of Agriculture. This program helps kids understand where the food they eat is grown and how important farmers are to their daily lives.

 

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Indiana Farm Bureau has robust advocacy efforts at the local, state and national levels. While INFB's well-respected lobbyists push through state legislation, on-the-ground teams assists individual farmers with local concerns. Staff, leadership and volunteer members also advocate in Washington to make sure federal policy favors farmers and agriculture.

 

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Indiana Farm Bureau's Young Farmers and Ag Professionals program is dedicated to finding those who have a passion for agriculture and a hunger to learn more. We cultivate members to become the next generation of agricultural leaders through leadership development, awards and competitions and networking.

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