USDA Releases December WASDE

The USDA released its December World Agricultural Supply and Demand Estimates (WASDE) report on Thursday.

Dan Basse is president of AgResource Company in Chicago.

"Not a lot of changes," he said. "USDA put U.S. corn end stocks at 1.493 billion bushels. That's unchanged. Soybeans at 340 million bushels, unchanged...They lowered imports from Canada five million bushels because of your tight stocks and then cut exports 20, leaving stocks up 15 million bushels at 598. A historically tight number, but not as tight as last month."

Basse says globally they didn't make any changes with South American crops.

He notes the only change came in wheat where they raised the Australian crop to 34 million metric tonnes, almost a record.