The December WASDE is typically a non-event and today’s report was no different. Typically, there are few changes to be made to the U.S. balance sheets and, even with this year’s extreme weather/harvest delays, USDA is more likely to adjust harvest acres/yields in the January WASDE. Similarly, it is too early to make major adjustments to the South American crop forecasts, so the status quo rules the December WASDE. USDA made no changes to the 2019/20 U.S. corn and soybean balance sheets and made only minor adjustments to the wheat outlook. The table below shows the agency’s expectations for ending stocks and ending stocks to use figures, which reflects a modest tightening in wheat stocks.
The biggest change...
What You Need to Know Today: Crude oil prices extended their rally today, supported by several developments, including escalating Houthi attacks on Saudi Arabian oil infrastructure and growing concerns about supply disruptions. The Trump administration is reportedly preparing to remove 50 perc...
Key Takeaways: The agricultural trade surplus has become a sizable deficit: the balance swung from a $40.1 billion surplus in 2011 to a $40.7 billion deficit in 2025. Imports kept growing while exports lost momentum: between 2020 and 2025, agricultural imports increased 45 percent, compa...
USDA released its October Cattle on Feed report Friday, showing 11.4 million cattle in feedlots with capacity for 1,000 head or more, slightly below last year. September placements were the lowest for the month since records began in 1996, marking the third consecutive month of placements sett...
Regional News Dry weather across the UK and Europe is becoming increasingly concerning for the 2027 crops as planting intentions are lowered amid dry soil conditions. Delayed sowing or establishment under adverse conditions could leave crops more vulnerable to frost/freeze events and dise...
