The World Agricultural Supply and Demand Estimates (WASDE) are released each month by the USDA and provide annual forecasts for supply and use of both U.S. and world wheat, rice, coarse grains, oilseeds, and cotton.
The January report is typically thought of as a market mover because it provides revisions to the previous year’s total U.S. supply balance sheets.
The February WASDE report will be released by the USDA at 11:00 AM central time on Thursday February 8th. Joe Camp with Commstock Investments says that although the February report might not carry as much weight as the January release, it still contains vital information.
Camp says that he expects changes to South American production estimates, with the USDA and private estimates differing wildly.
He says that the Brazilian corn numbers will also be highly anticipated as analysts attempt to determine how much damage to the crop has occurred in drought conditions.
That was Joe Camp with Commstock Investments. For more information visit https://commstock.com/