Brokers on the floor used to execute trades in person, but for one trading firm, the USDA’s WASDE report from July brought back those memories. Betsy Jibben with Ag Market Consulting takes us behind the scenes on report day with AgMarket.net.
What is WASDE?
WASDE stands for World Agricultural Supply and Demand Estimates. It’s a monthly report published by the U.S. Department of Agriculture (USDA), and it’s one of the most influential reports in global agriculture. It’s released around the 10th or 12th of each month.
What It Does
The WASDE report provides comprehensive forecasts and analysis of supply and demand for:
- Major U.S. and global crops (like corn, soybeans, wheat, cotton, rice, etc.)
- Livestock and dairy
- Trade and ending stocks (what’s left over after usage and exports)
Why It Matters
- Traders, farmers, agribusinesses, and policymakers utilize it to inform their decisions.
- It impacts commodity prices immediately after release, especially if there are surprises.
- It also sets expectations for production, consumption, and export trends.
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“Those could’ve easily been our beans going over there. It goes to show that if that opportunity is there, China would be willing to buy.”
