Ag News: WASDE Changes Few and Ag Loans Down
**In its monthly Crop Production and WASDE reports, USDA made few revisions, acknowledging more information will be shared in the next month.
Standard Grain president Joe Vaclavik tells agweb.com, “the report was neutral,” and “the USDA kind of just kicked the can down the road.”
This month, USDA’s National Ag Statistics Service will collect updated information on 2019 acres planted, and if the new data justifies any changes, NASS will publish updated acreage estimates in the August Crop Production report.
**In the wake of the U.S. housing meltdown of the late 2000s, JPMorgan Chase hunted for new ways to expand its loan business and one was ag loans.
But now, according agrimarketing.com, after years of falling farm income and an extended U.S.-China trade war, JPMorgan and other Wall Street banks are heading for the exits.
An analysis shows, the agricultural loan portfolios of the nation's top 30 banks fell by $3.9 billion, to $18.3 billion, from its peak between December 2015 and March 2019, a 17.5% decline.
**Out of 44 milk-producing countries, only Brazil and India are expected to expand their milk herds this year.
That’s according to USDA’s semi-annual report titled Dairy: World Markets and Trade.
Milkbuisness.com reports, with cow numbers expected to remain steady or decline in most of the world’s largest milk-producing countries, gains in per cow output will be critical if world output is to expand.