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Key data in USDA's August Wasde, and comparison with market forecasts

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The US Department of Agriculture on Wednesday revealed its August edition of the Wasde report on world crop supply and demand.

 

Below, key data, and how they compare with results of surveys on what investors expected.

 

 

Wasde data on US corn and soybean production, 2020-21
USDA estimate
Change from previous estimate
Difference from market forecast
Corn production (m bushels)
15,278 +278 +108
Corn yield (bushels per acre)
181.8 +3.3 +1.4
Soybean production (m bushels)
4,425 +290 +167
Soybean yield (bushels per acre)
53.3 +3.5 +2.0

 

Wasde data on 2020-21 world and US corn, soybean and wheat closing stocks

 

USDA estimate
Change from previous estimate
Difference from market forecast
US corn (m bushels)

2,756

+108

-44

US soybeans (m bushels)

610

+185

+85

US wheat (m bushels)

925

-17

-22

World corn (m tonnes 317.46 +2.41 -2.84
World soybeans (m tonnes) 95.36 +0.24 -2.56
World wheat (m tonnes) 316.79 +1.95 +2.94
Sources: Agrimoney, Reuters, USDA.

 

 

Wasde data on US wheat production, 2020-21
USDA estimate
Change from previous estimate
Difference from market forecast
Hard red

695

-15

-16

Soft red

277

-3

-3

White

226

+1

+1

All winter wheat 1,198 -19 -20
Durum wheat 61 +5 +5
Other spring wheat 577 +17 +27
All wheat 1.838 +14

+5

All data in million bushels Sources: Agrimoney, Reuters, USDA.

 

 

 

Wasde data on 2019-20 world and US corn, soybean and wheat closing stocks

 

USDA estimate
Change from previous estimate
Difference from market forecast
US corn (m bushels)

2,228

-20

-37
US soybeans (m bushels)

615

-5

-1

World corn (m tonnes) 311.30 -0.65 -1.32
World soybeans (m tonnes) 95.85 -3.82 -3.23
World wheat (m tonnes) 300.91 +3.79 +4.36
Sources: Agrimoney, Reuters, USDA

 

 

 

 

 

Wasde data on US and world 2020-21 cotton, and comparison with market expectations
USDA estimate
Change from previous estimate
Difference from market expectation
US production
18.08 +0.58 +0.89
US exports
15.00 unchanged -0.21
US end stocks
6.80 -0.80 +0.49
World production
117.53 +1.28 +1.39
World consumption
113.05 -1.24 -0.56
World end stocks
104.91 +2.14 +1.65
All figures in million bales. Sources: Agrimoney, Bloomberg, USDA

 

 

 

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