As usual last years grain report was over estimated by 50 million bushels. This is a concern for farmers as it appears the USDA are preparing to inaccurately estimate the percentage of good crop again this year. While many farmers are emptying their grain bins, lowered cash flow is the end resultant.
I think this is a continuation of a trend of maintaining production and cost controls for the large processors
Loss of cash flow will force smaller farmers out leading to more a market share held almost exclusively by the industrial farming sector.
USDA admits it overstated corn production in the latest report, for the previous year. And they are going to do it again this year
Why didn’t they have an accurate account to begin with, they have more than adequate data yet fail to use it. This tends to keep crop prices lower aiding the large processors. Keeping pressure on prices,while farmers trying to sell stored crops>! [Hidden Spoiler Text] This is the spoiler content.
Optionally with more lines
Farm reports can be found
https://www.usda.gov/about-usda/general-information/staff-offices/office-chief-economist/commodity-markets/wasde-report