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First look at the 2022-23 marketing year amid global turmoil

The May World Agricultural Supply and Demand Estimates gives the first look at USDA’s supply and demand expectations for the newest marketing year since the USDA Agricultural Outlook Forum in February.

This is the highlight of spring USDA reports as it incorporates farmer planting decisions from the March Prospective Plantings report and adapts supply estimates to reflect weekly planting progress reports.

The run-up to this report has been dominated by concerns about global grain and oilseed supplies for this year and next, prompted by both growing demand and disruptions of Black Sea supplies due to the Russian war on Ukraine.

This Market Intel dives into the May WASDE for updated estimates of the current 2021-22 marketing year crop and looks at what may be in store for the 2022-23 marketing year, which starts in September.

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