WASDE Report Analysis

Use our custom WASDE tool to analyze the most recent report.

THE VIEWS AND OPINIONS EXPRESSED IN THIS REPORT ARE SOLELY THOSE OF THE USDA. THESE VIEWS AND OPINIONS DO NOT NECESSARILY REPRESENT THOSE OF DANIELS TRADING, ITS STAFF OR ANY CONTRIBUTORS. THE ACCURACY AND VALIDITY OF THE VIEWS AND OPINIONS STATED IN THIS PIECE HAVE NOT BEEN VERIFIED.

WASDE - 591 - 12 | U.S. Corn Supply and Use 1/ (August 2019)

Metric	2017/18	2018/19 Est.	2019/20 Proj. July	2019/20 Proj. August	Change**
Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a breakout of FSI corn uses, see Feed Outlook table 5 or access the data on the Web through the Feed Grains Database at www.ers.usda.gov/data-products/feed-grains-database.aspx. 3/ Corn processed in ethanol plants to produce ethanol and by-products including distillers' grains, corn gluten feed, corn gluten meal, and corn oil. 4/ Marketing-year weighted average price received by farmers. * For July, corn area planted and harvested as reported in the June 28, 2019, "Acreage." Projected yield is based on a weather-adjusted trend assuming normal summer growing season weather, lowered to reflect the impact of delayed planting progress observed during the month of May and into early June.
	Million Acres
Area Planted	90.2	89.1	91.7 *	90.0	-1.7
Area Harvested	82.7	81.7	83.6 *	82.0	-1.6
	Metric Tons
Yield per Harvested Acre	176.6	176.4	166.0 *	169.5	3.5
	Million Metric Tons
Beginning Stocks	2,293	2,140	2,340	2,360	20
Production	14,609	14,420	13,875	13,901	26
Imports	36	30	50	50	0
Supply, Total	16,939	16,590	16,265	16,311	46
Feed and Residual	5,304	5,275	5,175	5,175	0
Food, Seed & Industrial 2/	7,057	6,855	6,930	6,905	-25
Ethanol & by-products 3/	5,605	5,425	5,500	5,475	-25
Domestic, Total	12,361	12,130	12,105	12,080	-25
Exports	2,438	2,100	2,150	2,050	-100
Use, Total	14,798	14,230	14,255	14,130	-125
Ending Stocks	2,140	2,360	2,010	2,181	171
Stocks to Use ***	14.46	16.58	14.1	15.44	1.33
Avg. Farm Price ($/bu) 4/	3.36	3.60	3.70	3.60	-0.1

WASDE - 591 - 15 | U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/ (August 2019)

Metric	2017/18	2018/19 Est.	2019/20 Proj. Jul	2019/20 Proj. Aug	Change**
Note: Totals may not add due to rounding. Reliability calculations at end of report. 1/ Marketing year beginning September 1 for soybeans; October 1 for soybean oil and soybean meal. 2/ Prices: soybeans, marketing year weighted average price received by farmers; oil, simple average of crude soybean oil, Decatur; meal, simple average of 48 percent protein, Decatur. 3/ Reflects only biodiesel made from methyl ester as reported by the U.S. Energy Information Administration. 4/ Based on an October year crush of 2,065 million bushels for 2018/19 and 2,115 million bushels for 2019/20. *Planted and harvested acres are from the June 28, 2019 Acreage report. The yield is based on a weather-adjusted trend model.
	Million Acres
Area Planted	90.2	89.2	80.0 *	76.7	-3.3
Area Harvested	89.5	88.1	79.3 *	75.9	-3.4
	Bushels
Yield per Harvested Acre	49.3	51.6	48.5 *	48.5	0
	Million Bushels
Beginning Stocks	302	438	1,050	1,070	20
Production	4,412	4,544	3,845	3,680	-165
Imports	22	17	20	20	0
Supply, Total	4,735	4,999	4,915	4,771	-144
Crushings	2,055	2,065	2,115	2,115	0
Exports	2,134	1,700	1,875	1,775	-100
Seed	104	89	96	96	0
Residual	5	75	34	30	-4
Use, Total	4,297	3,929	4,120	4,016	-104
Ending Stocks	438	1,070	795	755	-40
Stocks to Use ***	10.19	27.23	19.3	18.8	-0.5
Avg. Farm Price ($/bu) 2/	9.33	8.50	8.40	8.40	0

WASDE - 591 - 11 | U.S. Wheat Supply and Use 1/ (August 2019)

Metric	2017/18	2018/19 Est.	2019/20 Proj. Jul	2019/20 Proj. Aug	Change**
Note: Totals may not add due to rounding. 1/ Marketing year beginning June 1. 2/ Marketing-year weighted average price received by farmers. 3/ Includes imports.
	Million Acres
Area Planted	46.1	47.8	45.6	45.6	0
Area Harvested	37.6	39.6	38.4	38.4	0
	Bushels
Yield per Harvested Acre	46.4	47.6	50.0	51.6	1.6
	Million Bushels
Beginning Stocks	1,181	1,099	1,072	1,072	0
Production	1,741	1,884	1,921	1,980	59
Imports	158	135	140	135	-5
Supply, Total	3,080	3,118	3,133	3,187	54
Food	964	955	965	960	-5
Seed	63	60	68	68	0
Feed and Residual	47	96	150	170	20
Domestic, Total	1,075	1,110	1,183	1,198	15
Exports	906	936	950	975	25
Use, Total	1,981	2,046	2,133	2,173	40
Ending Stocks	1,099	1,072	1,000	1,014	14
Stocks to Use ***	55.48	52.39	46.88	46.66	-0.22
Avg. Farm Price ($/bu) 2/	4.72	5.16	5.20	5.00	-0.2

World Ending Stocks ( 2018/19 Est. )

Crop	USDA Aug	USDA Jul	Change**
Corn	328.58	328.75	-0.17
Soybeans	114.53	112.98	1.55
Wheat	275.49	275.15	0.34

World Ending Stocks ( 2019/20 Proj. )

Crop	USDA Aug	USDA Jul	Change**
Corn	307.72	298.92	8.8
Soybeans	101.74	104.53	-2.79
Wheat	285.40	286.46	-1.06

South American Production ( 2019/20 Proj. )

Country	Crop	Production
Argentina	Corn	214.50
	Soybeans	188.40
Brazil	Corn	50.00
	Soybeans	53.00

Want help understanding the WASDE report numbers?

Get Daniels Trading’s “Futures Traders’ Guide to the WASDE”. This comprehensive guide will help you understand the USDA World Agriculture Supply & Demand Estimates For Corn, Soybeans and Wheat reports.

Download Futures Traders’ Guide to the WASDE