First USDA crop forecast available

The first USDA crop forecast of the year suggests little change in the price of wheat and coarse grains, provincial crops market analyst Charlie Pearson said in mid-May. The forecasts also indicate that oilseeds will see the biggest drop in prices over the period.

“World soybean production has been higher than its consumption over the last three years so carry-overs will continue to increase and this state will continue to put pressure on prices,” said Pearson.

Although the numbers are preliminary and will change, USDA forecasts are important and impact market conditions, said Pearson.

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