USDA Releases October WASDE

Oct 13, 2021

The USDA released its October WASDE (World Agricultural Supply and Demand Estimates) report Tuesday morning.

Jon Driedger is Vice-President of LeftField Commodity Research.

"USDA increased production in particular for corn and especially for soybeans and then also included some larger stocks from the September 30th report and so within that, basically increased supply of those crops and in particular the soybeans, is what they showed today...More soybeans out there than the market was anticipating and then also a little bit so for corn as well."

He notes the USDA reduced the U.S. wheat carry-out projections for this coming year, in line with expectations. Driedger adds we continue to see both U.S. and global wheat stocks tighten on these reports.

Driedger says harvest in the U.S. is moving along at an average pace.

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Video: Learning to Wrench From Dad the Hard Way

Harvest is a week out and the farm picked this week to fall apart. The truck needs a battery, the barn curtain's got a problem, and the corn and beans are telling us we're out of time to get it all fixed.

So it's a full day of wrenching. Tork supervises while I get the truck back running, then we're out at the hog barn where one rusted up part has the whole curtain system hung up. Ladder work, cable work, and a little dad-and-son disagreement about the right way to do it. We close it out walking the fields, shelling beans and checking corn, because whether everything's fixed or not, harvest starts when harvest starts.

Chapters: 00:00 Everything breaks the week before harvest 01:00 Tork supervises while I fix the truck 12:30 Out to the barn to find the curtain problem 14:30 One rusty part hung up the whole curtain 20:00 Running the curtain cable from the ladder 24:00 Walking the beans and corn before harvest 26:30 Wrapping up

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