Grain Trade Focused on Friday USDA WASDE Data

Federal officials are releasing their monthly USDA World Ag Supply and Demand Estimates (WASDE) report Friday morning, data that could put a cap on the recent grain market rally if grain supply numbers are on the high side. The trade expects USDA to peg U.S. average corn yields at 177.7 bushels per acre and soybean yields at 51.6 bushels per acre, both slightly lower than September USDA estimates. With those numbers already priced into the market, anything higher could be bearish, but given the ongoing trade dispute with China, increased attention is likely to be paid to the demand data in Friday’s report. Get ready for the report and potential grain market reactions here.