World Perspectives
feed-grains soy-oilseeds wheat

The December WASDE

USDA’s December WASDE, released at midday, fits right into the history of previous issues for this month. They very seldom contain surprises but are always interesting, especially since they come along at a time of year when markets must search hard to find anything that is compelling. This is surely the case in December 2017 when the most interesting things are South American weather forecasts. As Mike Krueger noted yesterday, December WASDEs do not provide fresh production estimates for crops harvested in the fall. We must wait until 12 January for USDA’s final scheduled estimates for U.S. 2017/18 corn, soybeans and grain sorghum production. For the December WASDE, markets usually focus on whatever adjustments are made to pro...

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