WASDE Preview: December Report to Analyze Southern Hemisphere’s Grain Harvest

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.

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.

Related Stories
NCGA Chief Economist Krista Swanson discusses the evolving role of ethanol in the current energy crisis, opportunities for expanding corn discusses the evolving role of ethanol in the current marketdemand, and the industry’s outlook moving forward.
Energy risks could reshape global ag trade flows.
The ag trade deficit is narrowing, but export competition remains strong.
Biofuel policy decisions may influence planting economics. Today, March 18, is also National Biodiesel Day.
Geopolitical tensions in the Strait of Hormuz disrupt fertilizer shipments, raising costs and creating uncertainty for U.S. farmers ahead of planting season.
President Trump issues a 60-day Jones Act waiver to ease fuel shipments amid Middle East tensions disrupting energy markets, while biofuel policy gains focus.

LATEST STORIES BY THIS AUTHOR:

While the Farm Bill is top of mind right now, it is far from the only issue getting attention in Washington.
Lewie Pugh, with the Owner-Operator Independent Drivers Association, discusses EPA DEF system changes and what they mean for the supply chain and fuel costs.
JBS says the plant is now operating at full capacity as plant workers return to work.
Rising costs and prices are shifting acreage toward soybeans. Most fertilizer prices are up double digits from this time last year, with Urea seeing the largest gains.
Industry leaders argue the decision could disrupt confidence in conservation practices and increase regulatory uncertainty for producers across the region.
A Nebraska rancher says his land may not support cattle this year after 2,000 acres were burned in recent devastating wildfires across the state.
Agriculture Shows
Hosted by Scott “The Cow Guy” Shellady and RFD News Markets Specialist Tony St. James, Commodity Talk delivers expert insight into the day’s ag commodity markets just before the CME opens. Only on RFD-TV and Rural Radio SiriusXM Channel 147.
A look at the news, weather and commodities headlines that drove agriculture markets in the past week.
Everything profits from prairie. Soil, air, water — and all kinds of life! Learn how you can improve your land with prairie restoration, cover crops and prairie strips, while growing your bottom line.
Special 3-part series tells the story of the Claas family’s legacy, which changed agriculture forever.