USDA WASDE report, nothing really changed

Jun 12, 2013

USDA WASDE report, nothing really changed

There were no surprises in today’s June 12 World Agricultural Supply and Demand Estimates (WASDE) report. The initial reaction was bearish for corn and wheat, and neutral to friendly for soybeans.

The following are some highlights:

Corn:

Old crop ending stock moved higher from 759 million to 769 million. Exports were lowered by 50 million. New crop ending stalks lowered to 1.949 billion from previous estimates of 2.004 billion.

Wheat:

U.S. wheat supplies for 2013/14 are raised. Beginning stocks are higher with a 15 million bushel reduction in 2012/12 exports. Production for 2013/14 is up 23 million bushels.

Soybeans:

U.S. soybean supply and use projections for 2013/14 are unchanged from May. Soybean imports are raised 5 million bushels to 25 million. Soybean exports for 2013/14 were reduced by 20 million bushes to 1.33 billion bushels. Global oilseed production for 2013/14 is projected at 490.8 million tons, down 0.5 million from May.

The market will be watching for the June 28^th report next. The full report can be found here: http://www.usda.gov/oce/commodity/wasde/

Video: Evolution of Beef Cattle Farming

The Clear Conversations podcast took to the road for a special episode recorded in Nashville during CattleCon, bringing listeners straight into the heart of the cattle industry. Host Tracy Sellers welcomed rancher Steve Wooten of Beatty Canyon Ranch in Colorado for a wide-ranging discussion that blended family history and sustainability, particularly as it relates to the future of beef production.

Sustainability emerged as a central theme of the conversation, a word that Wooten acknowledges can mean very different things depending on who you ask. For him, sustainability starts with the soil. Healthy soil produces healthy grass, which supports efficient cattle capable of producing year after year with minimal external inputs. It’s an approach that equally considers vegetation, animal efficiency, and long-term profitability.

That philosophy aligned naturally with Wooten’s involvement in the U.S. Roundtable for Sustainable Beef, where he served as a representative for the Colorado Cattlemen’s Association. The roundtable brings together the entire beef supply chain—from producers to retailers—along with universities, NGOs, and allied industries. Its goal is not regulation, Wooten emphasized, but collaboration, shared learning, and continuous improvement.