University Study of USDA Reports Due This Month

January 3, 2014 04:56 AM
 

via a special arrangement with Informa Economics, Inc.

Study of reports may still not answer questions on trade misses on USDA data


NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.


The examination of USDA reports like the Supply/Demand and Grain Stocks reports will likely be completed yet this month by the University of Illinois economists who are conducting the review at the request of USDA Chief Economist Joe Glauber.

The study was being worked on during most of 2013 and after a presentation of a draft was made to USDA, there were some additional issues being explored. However, some contacts say the "additional issues" weren’t necessarily new items but rather some clarifications within the work done thus far.

As for when the report will be released, contacts will only say they expect it will be yet this month. And, expectations are that the University of Illinois economists conducting the study could be the ones to release the report. That has been the case in other studies of USDA data that have been conducted outside the agency.

Still, contacts advise there may not be that "a-ha" moment in the study or the "smoking gun" that will explain why the trade expectations for some data releases from USDA have been so far off the actual data released.


Comments: If the eventually released report does not find a single major factor as the reason for the disparity between USDA data and trade expectations, it would add credence to USDA’s own analysis of the situation which, in the case of the Grain Stocks data in particular, revealed no concrete reason for why trade expectations have missed greatly the actual data released. Some industry sources in discussions about this topic said they want to know how much the study cost USDA – taxpayers. Some sources indicate USDA "found some funds" to pay for the study. When the report is officially released, I will try to obtain its cost.


 

NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.


 


 

 

 

 

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