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Supply and demand forecast difficult to predict this round

USDA’s supply and demand report Friday will have the first estimates for new marketing years for grains, oilseeds, and livestock.

Outlook Chairman Seth Meyer says this year, it has been especially difficult to make the projections.

“We have the added issue of delayed planting almost across the board. We’ve got intense trade negotiations going on with the Chinese in town while we will be in lock up.”

Meyer says swings in commodity markets are also a challenge as lean hog futures prices ranged nearly seven dollars Tuesday.

“So, we are really trying to take in information but not let the latest swing really push you around because if you wait about an hour then you can have a completely different picture on which way prices are headed.”

The report comes out at noon Eastern on Friday.