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 the USB and USSEC, provides his insight on the monthly WASDE report in the following as well as other timely market reports in the following resources.
Latest WASDE Recaps
The September 11 WASDE Recap presentation points out that:
- Yield revised down to 51.9 bushels/acre; crop size revised down by 112 million bushels to 4.313 billion bushels for 2020/2021.
- Exports unchanged at 2.125 billion bushels but still the highest since 2017/2018.
- Carryout revised down by 150 million bushels on lower production.
Key points from the August 12 WASDE Recap presentation include:
- August 2020 WASDE estimates put world whole soybean demand for marketing year 20/21 at 367.9 million metric tons (MMT).
- Exports revised up 75 million bushels (2 MMT) to 2.125 billion bushels – highest since 2017/2018 marketing year.
- U.S. demand is up 2.9 MMT, above 10-year trend of +0.9 MMT/year.
The July 10 WASDE Recap presentation discusses the following:
- U.S, soybean crop projected at 4.135 billion bushels, up 16% from the weather-hampered 2019/20 crop of 3.557 billion bushels. This figure is up 10 million bushels from June.
- U.S. soybean exports projected to rebound to 2.050 billion bushels, up 24% from 19/20 exports of 1.650 billion bushels.
- July 2020 WASDE estimates put world whole soybean demand for marketing year 2020/2021 at 363.6 MMT.
Additional Market Intelligence Resources