USDA WASDE: USDA's Dormant December

The December WASDE was exceptionally quiet, as the USDA made no changes to its US corn and soybean complex ending stocks. For CBOT Corn in particular – with analyst expectations for diminishing 2019/20 US corn yields/harvested acreage unfulfilled – bearish sentiment was tempered by the USDA’s reluctance to cut lagging US export demand. Rabobank sees a silver lining in the USDA’s demand outlook, which implies a recovery in lagging US corn sales outside the typical post-harvest export window.

Download previous editions

  • Stefan Vogel

    Global Strategist - Grains & Oilseeds; Head of Agri Commodity Markets
    Read more
  • Carlos Mera

    Senior Analyst - Agri Commodity Markets
    Read more
  • Michael Magdovitz

    Commodity Analyst
    Read more
  • Andrew Rawlings

    Associate Analyst - Agri Commodities
    Read more