Full Coverage OF USDA WASDE Report
WASDE: Global Coarse Grain Supplies for 2012/13 are Projected 2.1 Million tons Higher
USDA: U.S. Wheat Ending Stocks for 2012/13 are Projected 25 Million Bushels
WASDE: 2012/13 U.S. Cotton Forecasts Include Higher Exports
WASDE: Global Oilseed production for 2012/13 is projected at 466.9 million tons
USDA: Crop Production Report
The USDA released the World Agriculture Supply and Demands Estimates (WASDE) – the following is a brief summary of some of the highlights of the report.
Soybean ending stocks came out at 125 million bushels, compared to 135 million last month and 169 million last year, with USDA make a slight upward adjustment to crush demand. Before the report, traders saw ending stocks at 129 million bushels. The average farm price is estimated at $13.55 to $15.05, compared to the month ago range of $13.50 to $15.
U.S wheat ending stalks are projected 25 million bushels lower this month. All wheat exports are unchanged. The projected season average for farm price for wheat is narrowed 5 cents to $7.70 to $8.10 per bushel.
Corn export estimates are at 50 million bushels lower due to slower pace in sales and shipments. Corn that is used for ethanol production remains unchanged. Corn used for sweeteners/starch raised 20 million bushels. Corn ending stocked were raised to 30 million bushels. Season-average corn was lowered 20 cents; narrowed to $6.75 to $7.65 per bushel.
On the international side of things, the Ag Department increased ending stocks for corn, soybeans, and wheat. For both corn and soybeans, USDA raised the estimates for Brazil’s current crops and lowered the outlooks for Argentine production.
The next set of supply and demand estimates is out March 8.
USDA Crop Progress Report
USDA: Export Sales Report