USDA releases March 2016 WASDE report

Mar 10, 2016

United States projected to produce 55.8 million tons of wheat

By Diego Flammini
Assistant Editor, North American Content
Farms.com

The United States Department of Agriculture released its World Agricultural Supply and Demand Estimates (WASDE) report for March on Wednesday.

The report includes the estimated production and uses for different global commodities but the focus will be on the corn, soybean and wheat production for Canada and the United States.

Wheat
“There are no changes to this month’s all wheat balance sheets,” the report reads.

The United States is estimated to produce 55.8 million tons, the same projection from February’s WASDE report.

Canada’s wheat production also remains the same at 27.6 million tons.

The forecasted price for wheat is $5.00/bushel, a decline of 16.5 per cent from 2014/15.

Corn, soybeans and wheat

Corn
According to the WASDE report, corn production also remains unchanged in terms of U.S. and Canadian production since the February release.

The United States is forecast to produce approximately 345.5 million tons of corn, while Canada is projected to produce 13.6 million tons.

The estimated price for corn is $3.60/bushel, a 2.7 per cent decrease from 2014/15.

Soybeans
The USDA estimates soybean production to total 460 million bushels compared to the 450 million reported in February’s report.

The forecasted price for soybeans is $8.75/bushel, which represents a 13.4 per cent drop from 2014/15.

Farms.com’s Chief Commodity Strategist Moe Agostino hosted a detailed webinar to analyze the WASDE report and provide farmers with some insight into their next move.

The next WASDE report is due out April 12.

Video: Evolution of Beef Cattle Farming

The Clear Conversations podcast took to the road for a special episode recorded in Nashville during CattleCon, bringing listeners straight into the heart of the cattle industry. Host Tracy Sellers welcomed rancher Steve Wooten of Beatty Canyon Ranch in Colorado for a wide-ranging discussion that blended family history and sustainability, particularly as it relates to the future of beef production.

Sustainability emerged as a central theme of the conversation, a word that Wooten acknowledges can mean very different things depending on who you ask. For him, sustainability starts with the soil. Healthy soil produces healthy grass, which supports efficient cattle capable of producing year after year with minimal external inputs. It’s an approach that equally considers vegetation, animal efficiency, and long-term profitability.

That philosophy aligned naturally with Wooten’s involvement in the U.S. Roundtable for Sustainable Beef, where he served as a representative for the Colorado Cattlemen’s Association. The roundtable brings together the entire beef supply chain—from producers to retailers—along with universities, NGOs, and allied industries. Its goal is not regulation, Wooten emphasized, but collaboration, shared learning, and continuous improvement.