Data Training Webinar: Agricultural Baseline Database
Event Details
- Date: 4/28/2022
- Time: 1:00 p.m. ET
- Duration: 1 hour
- Presenters:
Description
Did you know that relatively strong growth in global and U.S. agriculture trade volume is projected over the next 10 years? Although strong trade competition continues, U.S. commodities remain generally competitive in global agricultural markets, with U.S. corn, soybean, and cotton exports projected at record highs by 2031/32.
The USDA Interagency Agricultural Projections Committee develops long-term agricultural projections, also referred to as "baseline" projections, that provide a scenario for the U.S. farm sector and global trade for the next 10 years. Projections cover agricultural commodities, agricultural trade, and aggregate indicators of each sector (such as farm income). The projections identify major forces and uncertainties affecting future agricultural markets; prospects for global long-term economic growth, consumption, and trade; and future price trends and trade flows of major farm commodities.
In this webinar, ERS agricultural economist Matthew Miller discussed how the projections are made and used, provided highlights from the recent projections, and demonstrated how to find the data on the ERS website.