World Perspectives
feed-grains soy-oilseeds wheat

Thoughts from the August WASDE

Last week we asked the rhetorical question “how big is big” as it applies to the U.S. and world grain and soybean supply and demand estimates for 2019/20 and 2020/21. Yesterday, USDA and NASS provided their latest answers when the August WASDE was released. To summarize their answers, “big” is very big and in some cases bigger than ever before. For example:

NASS’s national average corn yield estimate is 181.8 BPA which is about 1.5 BPA higher than the average trade guess and a new record by a fair margin.

The national average soybean yield is put at a record 53.3 BPA. This is about 1.5 BPA above the average trade guess and even tops the highest trade guess reported by wire services.

U.S. corn pro...

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