September WASDE Report to Provide Crucial Information for Farmers

The September USDA World Agricultural Supply and Demand Estimates (WASDE) report is due on Friday, September 11. This report will provide crucial information for farmers about the U.S. corn, soybean, and wheat markets. According to Grain Market Insider, farmers need to be aware of several key factors going into this report.

One factor is the pace of exports, which has remained firm over the past month. Inspections for old-crop corn are at 97% of the August WASDE estimate, compared with the five-year average of 93%. For soybeans, export inspections have also been steady and are 3 percentage points ahead of the five-year average pace needed to meet the August WASDE estimate.

Grain Market Insider expects a modest reduction in old-crop corn ending stocks due to the strong export pace. However, they do not expect any material increase to old-crop soybean stocks. The new-crop corn yield estimate will likely be adjusted lower due to deteriorating crop conditions and disappointing late-season yield estimates.