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CoBank Issues Quarterly Economic Agricultural Outlook

10/25/2018

CoBank issued their quarterly economic outlook on October 12th highlighting uncertainty relating to trade issues and bountiful harvests for major commodities.

 

Based on supply considerations, prices will be constrained especially in view of trade uncertainties and the value of the U.S. dollar.

 

The report stresses that “the escalating trade war with China is the leading risk for U.S. agriculture and the retaliatory actions taken by China and other trading partners have raised concerns of long-lasting effects on agricultural supply chains.”

 

Other conclusions from the report include:

 

  • Growth in emerging markets will increase demand for animal protein and specialty crops.
     
  • Record yields for U.S. corn, soybeans and cotton are anticipated in 2019.
     
  • The livestock sector has benefited from prolonged low ingredient costs although there are concerns over export volumes.