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USDA's Ag Outlook Board chair Mark Jekanowski said COVID-19 is making it hard to forecast supplies, exports, stocks and prices for the April report. He noted that rice prices have surged while livestock prices have collapsed, and that the report would include pandemic effects.
Forecast uncertainty raises volatility in grain and livestock markets ahead of the USDA release. The pandemic adjustments could shift expectations for feed supplies and prices.
brownfieldagnews.comApr 8, 2020After 247 past report events, Rough Rice moved a median +0.0% over 5 sessions (51% higher; middle half -1.8% to +2.3%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
