WASDE Reports
Private analysts project a strong U.S. corn crop ahead of USDA’s next supply and demand report.
Global conflicts, labor policy, and tightening wheat supplies are all competing for the attention of agricultural markets as producers navigate another volatile growing season.
Wheat production forecast down 7 million from June and the lowest since 1970/71. Winter wheat saw the largest adjustment. Global wheat stocks also moved lower as consumption increased and supplies tightened.
USDA’s July WASDE report projects the smallest U.S. wheat crop since 1970, tighter corn stocks, stronger soybean exports, larger cotton supplies, and higher cattle prices.
Markets await USDA’s July WASDE report as analysts monitor global corn production, China’s soybean demand, weather, and shifting trade dynamics.
The report gives producers a mostly stable row-crop balance sheet with sharper signals in wheat and meat markets.
The most notable crop changes came in wheat.
Trade estimates point to only modest changes in U.S. grain ending stocks ahead of USDA’s June 11 WASDE report.
Farmers will soon be asked to help shape some of USDA’s most closely watched crop and inventory reports.