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U OF ILLINOIS EXPERT REVIEWS USDA'S TEN YEAR FORECASTS FOR CORN, SOYBEANS
By Keith Good, University of Illinois, Social Media Mgr for Farmdoc.com

In part, the baseline update explained that, "The Agriculture Improvement Act of 2018 is assumed to remain in effect through the projection period. The projections are one representative scenario for the agricultural sector and reflect a composite of model results and judgment-based analyses. The projections in this report were prepared using data through the October 2021 World Agricultural Supply and Demand Estimates (WASDE) report, except where noted otherwise. Macroeconomic assumptions were concluded in August 2021."

Corn
The report stated that, "The baseline projects U.S. corn production to grow over the next decade as yield gains offset a gradual decline in acreage. Planted area is projected to steadily decline after 2021/22's strong response to increased global demand and tight supplies."

"Through the baseline period, supply grows at a faster rate than use, resulting in a steadily increasing stocks-to-use ratio," the report said.



To view the complete report, click here.


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