Lynsey Such with Allendale discussed the latest agricultural report, highlighting reduced wheat supply and potential impacts of erratic weather on crops. She also noted increased beef production and anticipated higher beef imports in 2024 and 2025, predicting a tight supply situation to continue into early 2025. Lynsey expected the next couple of months to be …
Tag: WASDE
Jun 12
USDA Holds Pat on June Supply and Demand Numbers; Rich Nelson Notes Unusually Low Movement in Report
USDA largely held pat on its June supply and demand numbers despite expectations that there would be lower corn ending stocks and lower production in South America as well. The numbers should surprise the grain trade, which was expecting some movement in the supply side. Farm Director KC Sheperd discussed the latest World Agricultural Supply …
Jan 12
Southern Plains Responsible for Bulk of Wheat Acre Declines in Latest WASDE
USDA on Friday released its January Crop Production, World Agricultural Supply and Demand Estimates (WASDE) Dec. 1 Grain Stocks and Winter Wheat Seedings reports. USDA pegged final national average corn yield at a record 177.3 bushels per acre (bpa), well above the range of pre-report expectations. Production was pegged at 15.34 billion bushels (bb). Soybean …
Dec 08
USDA Reflects Chinese Wheat Buys, Trade Hopes for more in Latest WASDE
USDA lowered Brazilian soybean production by 2 million metric tons (mmt) to 161 mmt (5.9 billion bushels) in one of the few significant changes to crop production numbers. Despite lower production, USDA increased Brazil’s exports 2 mmt to 99.5 mmt. On Friday, USDA released the World Agricultural Supply & Demand Estimates (WASDE) for December. The …
Nov 09
Wheat Production Unchanged in Latest WASDE Report, Allendale’s Rich Nelson Says It’s a Mild Report
USDA on Thursday slightly bumped up crop production for corn and soybeans and brought down projected ending stocks for both crops as well. USDA increased the 2023-24 corn production by 170 million bushels (mb) to 15.234 billion bushels (bb) — a surprise that was beyond the pre-report estimates. If that holds, that breaks the 2016 …
Oct 12
U.S. wheat production was estimated at 1.812 bb in October, up from USDA’s September estimate of 1.734 bb in Latest WASDE
Following the release of the WASDE (World Agricultural Supply and Demand Estimates) report released on October 12, 2023, Farm Director KC Sheperd visited with Allendale’s Rich Nelson about the big takeaways from the report. “On the wheat side of things, we did see USDA incorporate those larger production numbers from the Small Grains Summary Report …
Aug 11
Winter wheat production forecast at 1.23 billion bushels, up 2% from the July 1 forecast and up 11% from 2022 in Latest WASDE
As expected, USDA on Friday lowered both corn and soybean yields and production, dropping corn yields to 175.1 bushels per acre (bpa), and lowering soybean yields to 50.9 bpa. Corn production was pegged at 15.11 billion bushels (bb), and soybean production was forecast at 4.2 billion bushels. Farm Director KC Sheperd had the chance to …
Jul 12
U.S. Ending Stocks Estimates Bearish for Corn, Soybeans and Wheat in Latest WASDE
USDA on Wednesday, July 12, lowered the corn yield estimate to 177.5 bushels per acre (bpa) after bumping up its acreage estimate, but the July World Agricultural Supply and Demand Estimates (WASDE) still forecasts a record corn crop at 15.32 billion bushels (bb). USDA lowered the soybean ending stocks forecast for the new-crop (2023-24) season …
May 12
USDA Predicts Record Corn, Soybean Crops with Tight Wheat Stocks in May WASDE
Farm Director, KC Sheperd, caught up with Allendale’s Rich Nelson and talked about the numbers in the latest WASDE report. “Biggest issue we were kind of watching for today was on the wheat side,” Nelson said. “I think the trade was a bit relieved to see that USDA did not hit the export sale numbers …
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