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WASDE Report of February 8, 2018

WASDE report, USDA, commodity report, grain report

WASDE report, USDA, commodity report, grain reportThe World Agricultural Supply and Demand Estimates (WASDE) is a report monthly that provides the USDA's comprehensive forecasts of supply and demand for major U.S. and global crops and U.S. livestock.

The report gathers information from a number of statistical reports published by USDA and other government agencies and provides a framework for additional USDA reports. It shall be published in 10 of each month.

The last WASDE report has been issued by the United States Department of Agriculture (USDA) on February 8, 2018, and reporting larger corn production, increased food, seed and industrial use, lower estimates for feed and residual use, and reporting greater stocks. You can download it in pdf format at the end of the article.

Wheat: Projected 2017/18 U.S. ending stocks are raised this month by 20 million bushels as higher food use is more than offset by lower exports, while export forecasts for several major competitors are increased.

The projected season-average farm price (SAFP) remains unchanged at the midpoint of $ 4.60 per bushel. However, the projected SAFP range is narrowed by 5 cents at both ends of the range to $ 4.55 to $ 4.65.

Coarse Grains: This month’s 2017/18 U.S. corn outlook is for increased exports and reduced stocks. Exports are raised 125 million bushels, reflecting U.S. price competitiveness and reduced exports for Argentina and Ukraine. With no other use changes, U.S. corn ending stocks are lowered 125 million bushels from last month. The season-average corn price received by producers is projected at $ 3.30 per bushel, up 5 cents at the midpoint.

Oilseeds: This month’s 2017/18 U.S. soybean outlook is for reduced exports and increased ending stocks. Soybean exports for 2017/18 are projected at 2,100 million bushels, down 60 million from last month, reflecting shipments and sales through January and increased export competition on larger supplies in Brazil. With soybean crush unchanged, soybean ending stocks are raised 60 million bushels to 530 million.

The U.S. season-average soybean price range for 2017/18 is projected at $ 8.90 to $ 9.70 per bushel, unchanged at the midpoint. Soybean oil prices are forecast at 31 to 34 cents per pound, down 1 cent at the midpoint. Soybean meal prices are projected at $ 305 to $ 335 per short ton, up $ 5 at the midpoint.

If you are interested, you can find all the previous WASDE reports on the USDA website. You can also read all the last Commodity Reports.

pdf, format, file, download Report February 8, 2018

Seasonalgo, seasonal trading, spread trading, commodity market

  

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