USDA releases its first take on 2017 production, supply and demand of major crops, part of its budget process for the coming year. Though the estimates use statistical guesses to figure acreage and yields, they still set something of a starting point for the discussion. While USDA sees less corn and wheat acres and more soybeans, the agency forecasts burdensome supplies to continue.

Listen to the report using the audio link on this page.

USDA releases its first take on 2017 production, supply and demand of major crops, part of its budget process for the coming year. (Photo: maciek905/Thinkstock)

Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures 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 Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.

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