On November 2, 2018, at 12:00 p.m. EDT, the U.S. Department of Agriculture (USDA) will release selected tables prepared for the upcoming USDA Agricultural Projections to 2028 report. USDA will post online tables containing long-term supply, use, and price projections to 2028 for major U.S. crops and livestock products and will include supporting U.S. and international macroeconomic assumptions. The short-term projections from the October 11, 2018 World Agricultural Supply and Demand Estimates report are used as a starting point.
The complete USDA Agricultural Projections to 2028 report will be released in February 2019. The complete report will include a full discussion of the commodity supply and use projections, as well as projections for farm income and global commodity trade. The early-release tables will be posted to the USDA Office of the Chief Economist’s (OCE) website.
USDA’s long-term agricultural projections represent a departmental consensus on a ten-year representative scenario for the agricultural sector. They are a composite of model results and judgment-based analyses, prepared from September through October 2018. The projections do not represent USDA forecasts, but rather reflect a conditional long-run scenario based upon specific assumptions about macroeconomic conditions, policy, weather, and international developments, with no domestic or external shocks to global agricultural markets. The Agricultural Act of 2014 is assumed to remain in effect through the projection period.
Background on USDA’s long-term projections and past issues of the report are available at the USDA Economic Research Service (ERS) website.