No WASDE This Month: Will China Buy Soybeans During the USDA Data Reporting Freeze?

NASHVILLE, Tenn. (RFD-TV) — The markets will be without a major monthly report from the U.S. Department of Agriculture (USDA). We are talking about the WASDE report that should have been released on Thursday, but is now on hold due to the ongoing government shutdown.

In a large memo posted to the WASDE section of the USDA’s website, users are greeted with a message stating that the report is now suspended until further notice. Other reports are also on hold, with nearly half of USDA’s workforce in limbo until Congress appropriates the necessary spending. This includes information on overnight grain sales.

And without overnight data, that means the markets will be in the dark on purchases, including those by China. One market analyst tells us he would not be surprised if China bought some US soybeans while the information flow is shut off.

“Since then, what we’ve seen is renewed buying coming into the soybean market, and we’ve seen it in both futures and future spreads,” Darin Newsom explained. “And so, the big question last week, as I did all my interviews last week, was: How would we be able to tell without government guidance if the world’s largest buyer had stepped back in? Which they tend to do when the U.S. government shuts down because there’s no one reporting on their activity.”

He says there have been signs since the government shut down last week.

“We tend to see some business, albeit securing secondary supplies,” Newsom said. “How would we be able to tell what comes in the futures and what comes in the future spreads?”

For now, the October WASDE report is up in the air. In previous shutdowns, USDA never released those WASDE reports that had been delayed.

Related Stories
ARC-CO delivers the bulk of 2024 support, offering key margin relief as producers manage tight operating conditions.
Higher menu prices and tax-free tips are reshaping restaurant economics, sharply lifting server take-home pay even as diners face higher out-the-door costs.
USDA’s steady yields and heavy global stocks keep grains range-bound unless demand firms or South American weather becomes a real threat.
USMEF’s Jay Theiler discusses his leadership role in representing U.S. beef and pork and provides an update on this week’s conference in Indianapolis.
Manure from a hog farm is more than just waste; it is also becoming a key renewable resource for operations.
As economic pressures continue to squeeze agriculture, ag lenders are signaling a more cautious outlook for farm profitability heading into next year, particularly among grain producers facing lower commodity prices and higher operating costs.

LATEST STORIES BY THIS AUTHOR:

Longtime MLF pro angler Fred “Boom Boom” Roumbanis shares how he and Jeff Sprague of Team YETI are preparing for the Team Series Summit Cup.
USDA released the November WASDE Report on Friday, the first supply-and-demand estimate to drop since September, just before the 43-day government shutdown.
U.S. Trade officials announced new deals with El Salvador, Guatemala, Ecuador, and Argentina, as well as a steep reduction in tariffs on Swiss imports.
China’s cost advantage with Brazilian soybeans and vague public messaging leave U.S. export prospects uncertain heading into winter.
Expanded aerial capacity strengthens the U.S.–Mexico buffer against screwworm, providing cattle producers with stronger protection heading into winter and reducing risk to herds along the southern tier.
AFBF economist Faith Parum breaks down the potential impact of the proposed policy change to allow year-round sales of E15 biofuel.
Agriculture Shows
Special 3-part series tells the story of the Claas family’s legacy, which changed agriculture forever.
From soil to harvest. Top Crop is an all-new series about four of the best farmers in the world—Dan Luepkes, of Oregan, Illinois; Cory Atley, of Cedarville, Ohio; Shelby Fite, of Jackson Center, Ohio; Russell Hedrick, of Hickory, North Carolina—reveals what it takes for them to make a profitable crop. It all starts with good soil, patience, and a strong planter setup.
Champions of Rural America is a half-hour dive into the legislative priorities for Rural America. Join us as we interview members of the Congressional Western Caucus to learn about efforts in Washington to preserve agriculture and tackles the most important topics in the ag industry on Champions of Rural America!
Featuring members of Congress, federal and state officials, ag and food leaders, farmers, and roundtable panelists for debates and discussions.