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
As the White House works to close the trade gap, patience is wearing thin for some lawmakers. Senator Chuck Grassley (R-IA) says farmers are getting backed into a corner.
With new renewable volume obligations announced this year, the Iowa Soybean Association says they’ll be vital to a farmer’s bottom line.
The September WASDE report comes out on Friday at Noon ET. As always, we’ll bring you those numbers right here on Market Day Report along with our expert
Pressure to lower gas prices across the Golden State could be the saving grace of this year’s corn harvest. California may soon be the final U.S. state to approve E-15 sales.
Ag Secretary Brooke Rollins will travel to Europe and Asia to seek new trade partnerships for U.S. crops after China reduced imports due to tariffs.

LATEST STORIES BY THIS AUTHOR:

China’s beef policy risk stems from domestic volatility, making export demand inherently unstable. Jake Charleston with Specialty Risk Insurance offers his perspective on cattle markets, risk management, and producer sentiment.
USDA flash corn sales, Cattle on Feed and Inventory reports, and beef packer antitrust concerns dominate January agricultural market news.
U.S. Secretary of Agriculture Brooke Rollins said permanent access to the higher ethanol blend would provide farmers with much-needed certainty while supporting domestic crop demand.
Food prices increased in December, but not as much as expected, according to the latest Consumer Price Index from the U.S. Bureau of Labor and Statistics.
Lewis Williamson with HTS Commodities joined us to provide analysis on the January WASDE report and expectations for grain markets going forward.
Market reaction was bearish for corn and soybeans, with analysts noting that abundant supplies amid tepid demand could keep price pressure on agricultural commodities.
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.