USDA Lockup Participants Weigh In on Market-Sensitive Reports

Two Indiana agricultural leaders shared their experiences participating in the USDA's National Agricultural Statistics Service (NASS) 'lockup,' where they witnessed firsthand how market-sensitive reports are developed.

Ed Ebert, senior director of market development with the Indiana Corn Growers Association and the Indiana Soybean Alliance, was surprised by the August Crop Production report, which increased production for both corn and soybeans. When asked about this decision, he noted that 'when you add acreage like that, there's always the question of where did it come from.' He added that he thinks this adds 'additional risk in terms of the market,' but acknowledged that there was a positive price reaction to the report.

Ron Hensley, an Indiana farmer, also participated in the lockup and appreciated the additional data transparency provided. He noted that the increase in soybean acres was a 'pleasant surprise' given his expectations.