With the next USDA supply and demand report coming this week, an agricultural economist says those estimates can still have errors.
David Widmar of Agricultural Economic Insights says, “The lesson here that’s really important to take away is that we get really hyperfocused on half a bushel or a bushel movements in the corn, and we sometimes need to step back and realize, okay, it’s August. How much do we really know?”
Widmar tells Brownfield the size of the crop becomes clearer late in the season and forecasting errors shrink, but it’s far from perfect.
