WASHINGTON, D.C. (RFD-TV) — The World Agricultural Supply and Demand Estimate (WASDE) from the U.S. Department of Agriculture (USDA) for December (PDF Version) delivered mostly steady U.S. projections for wheat, corn, soybeans, and cotton while global shifts continue to influence market direction. Wheat saw no domestic supply-or-use changes, though world production climbed on large crops in Canada, Argentina, the European Union, Australia, and Russia — pushing global ending stocks higher.
Corn saw the largest domestic adjustment: exports increased by 125 million bushels after a strong fall in shipping pace, tightening ending stocks to 2.0 billion bushels. Globally, Ukraine’s crop fell sharply due to wet harvest conditions, even as the EU and Russia posted modest increases.
Soybean supply, use, and farm-price projections were unchanged for the U.S., but world output rose slightly on higher production in Russia and India. Global soybean crush expanded, while exports slipped and ending stocks edged higher on larger inventories in Brazil and Russia.
Cotton estimates reflected higher U.S. production, lower mill use, and larger ending stocks, with world production and consumption both easing modestly.
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SDRP Stage 2 now helps producers recover shallow, uninsured losses from major 2023–2024 disasters, with streamlined sign-ups open through April 30.
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Corn exports remain strong, while soybeans and wheat shift week to week on river conditions and global demand.
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Tyson’s Nebraska plant closure and falling Cattle on Feed numbers send cattle markets tumbling. Analysts warn of tighter supplies, weak margins, and rising global competition.
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