The USDA held their annual Agriculture Outlook Forum February 27th and 28th. The hybrid event covered a broad range of topics from trade and commodity outlooks to animal influenzas. Seth Meyer, USDA Chief Economist, provided the economic and foreign trade outlook. Secretary Rollins virtually joined the forum where she emphasized her priority on swiftly distributing emergency and disaster relief noting that the state of the agriculture economy is dire. She also expressed her support and commitment to farmers and producers amid tariff policies and concerns regarding labor while recognizing the record trade deficit and rapid decline in the number of farms.

 

Grain and Oilseed Outlook

Meyer reported that corn acres in 2025 are estimated to increase by 3.4 million acres to 94 million acres, while soybean acres are expected to fall from 87.1 million acres in 2024 to 84 million in 2025. The USDA projected yield estimate of 181 bu/acre...