This month marks a significant milestone as the U.S. Dept. of Agriculture’s (USDA) World Agricultural Supply and Demand Estimates (WASDE) Report celebrates its 50th anniversary.
The WASDE report has played a pivotal role in shaping the agriculture industry since its inception in September 1973 — considered a beacon of transparency providing vital insights to farmers and agricultural traders alike — by offering crucial data and forecasts in the agricultural markets.
The world has changed tremendously over the last half a century. Back in 1973, computers and the internet were distant concepts, and the agricultural markets operated with far less transparency. The USDA recognized the need for reliable data to guide farmers, traders, and policymakers. Thus, the WASDE report was born as an endeavor to provide clarity in agriculture.
While technology and communication methods have evolved dramatically, as Chair of the USDA Outlook Board Mark Jekanowski highlights, the core principles of the WASDE report have remained unchanged.
Experts and market participants are eagerly awaiting the upcoming WASDE report, with a keen eye on several key aspects, including:
Corn and Soybean Yield Estimates: The markets will closely scrutinize the report’s estimates for corn and soybean yields. Of particular interest is the fact that this will be the first USDA yield estimate based on actual samples collected across the Midwest, providing an unprecedented level of accuracy.
Demand Adjustments: Another important aspect to watch for is whether the USDA makes significant adjustments to demand figures in response to anticipated yield reductions.
The upcoming WASDE report is set to be released Tuesday, Sept. 12, at 12 p.m. ET. RFD-TV News’ Market Day Report markets specialists will bring you the data as well as nuanced insights on the numbers as soon as they are available.
