Few Surprises Expected From USDA’s Final 2020 Crop Estimate

This week the USDA is publishing what essentially is the final acreage yield and production estimate for 2020 crops. And while Outlook Board Chairman Market Jekanowski said there will be some changes around the edges, he does not expect any big surprises. He added in some years, like 2020, there have been some meaningful revisions in USDA's January crop estimates. This time last year, he pointed out, weather did not cooperate with farmers trying to wrap up their harvest.

"There are still large portions of the corn crop up in the Dakota areas and outer parts of the upper Mid-west that weren't even harvested so that added some level of uncertainty last year.

"​This year, Jekanowski continued, "all of the crops got out of the field relatively timely and in good shape."

Jekanowski said while not a lot of changes are expected in the crop estimates, there could still be some surprises with USDA's release of a report on grain stocks and winter wheat seeding.

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