Crop Market Report-October, 2020
By Michael Diliberto, Ph.D.
LSU Ag Center/Extension Service Economist
The attached Crop Market Update Report for the month of October contains a summary of the markets’ reaction to the latest USDA supply and demand report. This report chronicles the price reaction prior and post-WASDE report release from October 9th. Strong export sales and reduced carryout (corn and soybeans) are helping support prices in the near term.
The USDA has also finalized the PLC payment rates for corn, grain sorghum, wheat, and seed cotton for the 2019 crop year. The projected PLC rates for long and medium grain rice will be finalized at the end of the month. Please refer to page 19 of the report for a summary of the 2019 CY and 2020 CY (projected) PLC payment rates for covered commodities.