Linked In
News In
Markets Extra
Linked In

You are viewing your 1 complimentary article.

Register now to receive full access.

Already registered?

Login | Join us now

Key Wasde statistics - and how they matched up to traders' forecasts

Twitter Linkedin eCard

Wheat’s rally suffered a reversal on Thursday after the US Department of Agriculture, in its monthly Wasde briefing, raised its estimate for domestic stocks at the close of 2017-18, citing weakened export prospects.


The soybean stocks estimates saw an even bigger upgrade, for the same reason. But in corn, at least, the USDA sees US fortunes improving.


Below the key data, their change on previous USDA estimates, and on market expectations as gleaned by Reuters polls.



USDA forecasts for crop inventories at the close of 2017-18
February 8 forecast Change from previous forecast Difference from market expectation

US corn


2.352bn bushels -125m bushels -116m bushels

World corn


203.09m tonnes -3.48m tonnes -1.57m tonnes

US soybeans


530m bushels +60m bushels +44m bushels

World soybeans


98.57m tonnes +250,000 tonnes +54m tonnes

US wheat


1.009bn bushels +20m bushels +19m bushels

World wheat


266.10m tonnes -1.92m tonnes -1.7m tonnes






USDA estimates for South American corn, soybean production 2017-18
January 12 forecast Change from previous forecast Difference from market expectation
Brazilian corn
95.0m tonnes Unchanged +1.27m tonnes

Brazilian soybeans


112.0m tonnes +2.0m tonnes +800,000 tonnes

Argentine corn


39.0m tonnes -3.0m tonnes -1.68m tonnes

Argentine soybeans

54.0m tonnes -2.0m tonnes -60,000 tonnes







Twitter Linkedin eCard
Related Stories

Evening markets: Calendar and dollar revival provoke ag market reversal

For cotton futures, that means a higher close, but the likes of soybeans and corn struggle. Coffee futures maintain downward trajectory

Weekly grain and oilseed market view from Europe

Sluggish EU wheat exports... but buoyant feed demand... impact of euro currency moves...

Morning markets: Year of the dog starts broadly positive for ags

That is, what movement there is is largely upward. But the lunar new year is not the only calendar factor to watch out for...

Morning round-up, Friday February 15

Argentine corn, soybean crop estimates... Jordan issues another barley tender... US coffee inventories...
Home | About | RSS | Commodities | Companies | Markets | Legal disclaimer | Privacy policy | Contact

Our Brands: Comtell | Feedinfo | FGInsight

© 2017 and Agrimoney are trademarks of Agrimoney Ltd
Agrimoney is part of AgriBriefing Ltd
Agrimoney Ltd is registered in England & Wales. Registered number: 09239069