The U.S. Department of Agriculture’s (USDA) monthly World Agricultural Supply and Demand Estimates (WASDE) report helps to provide a common, timely, and unbiased understanding of current agricultural conditions with a globally comprehensive look at key agricultural markets.
Mac Marshall, VP of Market Intelligence for USB and USSEC, provides his insight on the monthly WASDE report as well as other timely market reports in the following resources.
Latest WASDE Recap
Here are some of the highlights from the November 10 WASDE Recap presentation:
- Marketing year (MY) average price revised up by $0.60/billion bushels (bu) to $10.40/bu – highest estimate since July 2014.
Domestic ending stocks revised down by 100 million bushels (2.7 million metric tons [MMT]) to 190 million bushels (5.2 MMT) – approx. 15 days’ use; lowest since MY 13/14.
World ending stocks revised down 2.18 MMT to 86.52 MMT (51-day carryout – lowest since MY 12/13).
Interested in reviewing past WASDE recaps? See our WASDE Archives page for the previous months’ presentations.
Additional Market Intelligence Resources
Check out the following video for Marshall’s insights on the past and future of U.S. soybeans during the November National Association of Farm Broadcasting Trade Talk. During the event, Marshall shared insights about market factors that impacted soybean prices in early 2020 and how prices look now as harvest wraps up. Marshall also highlighted how global commitments from China and other countries worldwide helped drive robust demand for U.S. soy.
Check out the August 13 Lunch Break Webinar: Breakdown of the USDA-NASS August Crop Production Report for more market insights.