Purdue Extension webinar to focus on key March USDA report
By: Jennifer Piotrowski
WEST LAFAYETTE, Ind. – Farmers and agribusiness managers who want to understand the implications of the Grain Stocks and Prospective Plantings report released by the U.S. Department of Agriculture on March 31 are invited to participate in a free webinar hosted by the Purdue Center for Commercial Agriculture.
The webinar, "Implications of the March 31 USDA Reports," will be from noon to 1:30 p.m. (EDT) on April 1.
Presenters are Purdue Extension agricultural economists Chris Hurt and Corinne Alexander. Jim Mintert, professor of agricultural economics and assistant director of Purdue Extension, will serve as a moderator.
"The Grain Stocks report will help market participants understand the level of grain use so far this marketing year," Hurt said. "This is important for corn, where export usage has been very strong. The report may also provide some clues regarding reductions in corn use for feeding due to the porcine epidemic diarrhea virus in hogs.
"Soybean inventories are expected to be very tight again this year, and the level of soybean stocks is expected to provide indications of whether soybean prices need to move higher to force buyers to cut consumption."
The Prospective Plantings report is the first indication of which crops U.S. farmers intend to plant this spring. It provides the first peak into potential grain supplies for 2014 crops.
Hurt said some farmers might change their 2014 planting decisions based on what the report tells them.
"Agribusiness managers need to be aware of these last-minute planting adjustments as they are in the process of securing the seed, fertilizer and chemicals that farmers will use this year."
The webinar will include Hurt and Alexander's outlook for grain prices based on the reports. They also will offer grain-marketing strategies for producers to manage the price risks they will face.