The Department of Agriculture will release data for the upcoming USDA Agricultural Projections to 2028 report on Thursday, including projections for farm income, U.S. fruits, nuts and vegetables supply and use, and global commodity trade.
Data tables containing long-term supply, use, and price projections to 2028 for major U.S. crops and livestock products as well as supporting U.S. and international macroeconomic assumptions were released in November of last year. USDA Chief Economist Rob Johansson says the complete USDA Agricultural Projections to 2028 report will be released on March 13 and will include a full discussion of the projections for U.S. commodity supply and use, farm income, and global commodity trade.
USDA’s long-term agricultural projections represent a departmental consensus on a ten-year representative scenario for the agricultural sector. The projections do not represent USDA forecasts, but rather reflect a conditional long-run scenario based on specific assumptions about macroeconomic conditions, policy, weather and international developments, with no domestic or external shocks to global agricultural markets.