NASHVILLE, TENN. (RFD-TV) — In a little more than 24 hours, we will get our first look at the latest World Agricultural Supply and Demand Estimate (WASDE) Report from the U.S. Department of Agriculture (USDA) for December. This month’s WASDE report is expected to give markets a clear picture of where things stand after a busy harvest season.
Early trade estimates are already out with a big focus on the U.S. corn crop. Last year at this time, ending stocks were around 1.5 billion bushels. This year, traders estimate ending stocks will come in around 2.13 billion bushels. On the soybean side, the expectation is 308 million bushels. That is slightly below last year. And for wheat, estimates show that the crop’s ending stocks are around 40 million bushels over last year.
While this month’s WASDE report will not include updated figures on U.S. crop size, officials say it will offer a clearer picture of crop conditions in the Southern Hemisphere, with a heavy focus on the wheat harvest in Australia and the first corn and soybean crops from Brazil.
With the government shutdown, the USDA said export sales data that would have been released in October will now be released this week, too.
We will bring you those numbers from the delayed December WASDE Report and U.S. Crop Production reports right here on Market Day Report after they are released on Tuesday at 12 PM ET.
Shaun Haney joined RFD News to discuss the potential impact of the Trump-Xi summit uncertainty, ongoing agricultural trade talks, and why geopolitical developments could carry important implications for farmers and global commodity markets.
