COVID-19 market impacts to be included in USDA supply/demand forecast
USDA’s Ag Outlook Board chair says COVID-19 is making it hard for analysts to forecast supplies, exports, stocks and prices for this month’s report.
“These are incredibly unusual times.”
Mark Jekanowski says with so much volatility in the markets, there is no precedent to frame their forecasts and at this point they cannot ignore the impacts of the pandemic.
“There have been such large effects already on prices. Rice prices have shot up since this pandemic really took hold, while others like livestock have collapsed.”
The report comes out Thursday at Noon EST.