Adverse early-fall weather caused significant damage to the fall potato crop in the U.S. However, David Maloni, ArrowStream’s chief economist has said, “the USDA won’t provide an updated output forecast until January 10, 2020.”
Earlier this week, our economists were given a hint at how big supplies are from the USDA’s potato stocks report.
“The December 1 potato inventory in the U.S. was down 4.3 percent from last year, matching the smallest for the date,” said Maloni. “And as the chart shows, that inventory as a percent of production is historically small. All in all, the stocks number is concerning, but not alarming. But the USDA is likely to reduce their production estimate next month. And, the quality of the potatoes in storage is unknown.”