WASDE Reports
HTS Commodities’ Lewis Williamson discusses falling crop conditions, harvest progress and what USDA’s Friday WASDE report could mean for markets.
Crop conditions have declined as USDA prepares its September WASDE report
With crop conditions, trade, and geopolitical developments all in focus, traders will be watching Friday’s WASDE report to see where the agricultural markets are headed next.
USDA lowered ending stocks for corn, wheat and cotton while raising price projections.
The August WASDE shows tighter corn and wheat stocks, larger soybean production, and continued pressure on several livestock markets.
The latest USDA WASDE report could move grain markets with updated estimates for corn, soybean, and wheat production, ending stocks, and demand.
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.