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Key data in USDA's February 9 Wasde, and how they compare with forecasts

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

 

The tables below list the key data in the briefings, and how they differed from market expectations, as measured by a Bloomberg poll of investors for cotton, and Reuters polls elsewhere.

 

 

Wasde data on US and world 2020-21 crop closing stocks
Wasde figure
Change from previous
Difference from market expectation
US corn (m bushels) 1,502 -50 +110
US soybeans (m bushels) 120 -20 -3
US wheat (m bushels) 836 unchanged +2
World corn (m tonnes) 286.53 +2.70 +6.74
World soybeans (m tonnes) 83.36 -0.95 +0.06
World wheat (m tonnes) 304.22 -8.97 -8.64

 

 

 

Wasde estimates for US and world 2020-21 cotton supply and demand
Wasde figure
Change from previous Difference from market expectation
US production
14.95 unchanged +0.08
US exports
15.50 +0.25 +0.15
US carryout stocks
4.30 -0.30 -0.11
World production
114.14 +1.27 +1.50
World consumption
117.21 +1.48 +1.56
World carryout stocks
95.74 -0.58 -0.39
All figures in million bales

 

 

 

USDA estimates for South American 2020-21 corn, soybean production
USDA estimate
Change on previous
Difference from market expectation

Argentine corn

(m tonnes)

47.50 unchanged +0.47

Argentine soybeans

(m tonnes)

48.00 unchanged +0.36

Brazilian corn

(m tonnes)

109.00 unchanged +0.60

Brazilian soybeans

(m tonnes)

133.00 unchanged +0.54
All figures in million tonnes
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