2025 Baseline Update for U.S. Agricultural Markets
September 10, 2025
FAPRI-MU Report #03-25: This report, based on information available in mid‐August 2025, updates the 2025 FAPRI baseline outlook released earlier this year. Crop production in 2025 is assumed to equal the values reported by USDA in its August Crop Production report and macroeconomic assumptions are based on August 2025 forecasts by S&P Global. Current government policies are assumed to continue.
The Excel tables are available here.
Our March 2025 baseline publication can be found here.