USDA WASDE report, nothing really changed

Jun 12, 2013

USDA WASDE report, nothing really changed

There were no surprises in today’s June 12 World Agricultural Supply and Demand Estimates (WASDE) report. The initial reaction was bearish for corn and wheat, and neutral to friendly for soybeans.

The following are some highlights:

Corn:

Old crop ending stock moved higher from 759 million to 769 million. Exports were lowered by 50 million. New crop ending stalks lowered to 1.949 billion from previous estimates of 2.004 billion.

Wheat:

U.S. wheat supplies for 2013/14 are raised. Beginning stocks are higher with a 15 million bushel reduction in 2012/12 exports. Production for 2013/14 is up 23 million bushels.

Soybeans:

U.S. soybean supply and use projections for 2013/14 are unchanged from May. Soybean imports are raised 5 million bushels to 25 million. Soybean exports for 2013/14 were reduced by 20 million bushes to 1.33 billion bushels. Global oilseed production for 2013/14 is projected at 490.8 million tons, down 0.5 million from May.

The market will be watching for the June 28^th report next. The full report can be found here: http://www.usda.gov/oce/commodity/wasde/

Video: Jim Smalley: The Voice That Defined Saskatchewan Agriculture Journalism | CKRM 100th Anniversary

Our next 620 CKRM Icon is Jim Smalley. Jim reflects on his remarkable career, from his early days in Ontario and his first steps into news, to his move west and his lasting impact on Saskatchewan’s airwaves.

After joining CKRM in 1982, Jim spent more than four decades as one of the province’s most trusted and recognizable voices. Jim defined agricultural journalism — not just in Saskatchewan, but across Canada. His commitment to telling the stories of farmers, rural communities, and the people behind the headlines set the standard. Now retired from the newsroom that proudly bears his name, Jim shares memorable stories from his time on air. A broadcaster, a storyteller, and a true voice of Saskatchewan — Jim Smalley’s legacy continues to resonate at CKRM and beyond.