USDA Releases 'Disappointing' February WASDE

The USDA released its February World Agricultural Supply and Demand Estimates (WASDE) report Tuesday morning.

 

Dan Basse is president of AgResource Company in Chicago.

 

"The USDA, in their February nature, and it's usually a month of not very big changes, left things a little disappointing for the markets in Chicago. They only raised U.S. corn imports by 50 million bushels, leaving stocks at 1.5 billion bushels. They raised soybean exports 20 million bushels, leaving stocks there at 120 million bushels but everything else including U.S. wheat was unchanged."

 

Basse also commented on the world stage.

 

"They did cut the world wheat end stocks about 9 million metric tons. They raised Chinese feed use to 304 million metric tons. They've been selling a lot of wheat out of reserve in China. That's of course been going into the feed channel. Other than that, they raised Chinese corn imports to 24 million metric tons, that was versus 17.5 last month but again traders here in Chicago are left wandering, if they raised China's corn imports that much, why didn't the U.S. participate. Probably Ukraine and Brazil were sellers of some corn to China, but surely not enough to make up that USDA total."

Video: Veteran Farmers: A Legacy of Service in Rural America

Veterans Day is a time to honor the men and women who have selflessly protected our freedoms and values. And for some, the transition from military service to civilian life brings them back to the farm.

At Farm Bureau, we believe it’s important to not only celebrate veterans but also those who continue to make a difference in agriculture and their community. We've partnered with Farm Credit to establish the Veteran Farmer Award of Excellence to shine a light on those who have continued to go above and beyond to serve their communities.

This year, we recognize retired Colonel Joe Ricker as the inaugural Veteran Farmer Award of Excellence winner. Joe served over 30 years in the Army before retiring from the Pentagon and completing tours in both Iraq and Afghanistan. Since leaving the Army, his commitment to excellence in farming and enriching the lives of veterans has blossomed in a myriad of ways in both his local community of Wilkinson, Indiana, and across the country. Joe grows apples and raises bees on his farm in Indiana. Joe founded “Veterans IN Farming,” an organization, now with more than 1,100 members, dedicated to providing veterans in Indiana with the tools and training to succeed in agriculture.

The American Farm Bureau Federation is an independent, non-governmental, voluntary organization, comprised of and directed by farm and ranch families who engage in all types of food, fuel and fiber production.