December WASDE Report Shows Minimal Change, No Surprises

The latest World Agricultural Supply and Demand Estimates (WASDE) report released Dec. 9 revealed very few surprises, characteristic of the December USDA report. Much of the focus this report was on wheat, as corn and soybeans both domestically and in South America yielded few production forecast changes. Wheat adjustments were minimal, increasing stocks based on reduced exports. Adjustments were also made to the South American production number, raising the forecast by 1 MMT for Brazil just for this year, not touching the 2022 estimates.

Further analysis on the Dec. 9 WASDE report found here.

Full report found here.