No Major Shifts in USDA’s December WASDE

Total Farm Marketing Senior Market Analyst Naomi Blohm says Tuesday’s WASDE report offered few surprises, with USDA holding steady on most supply and demand categories. “No change at all on the supply or demand categories for soybeans or wheat compared to last month,” Blohm said, noting USDA typically waits until the January report to make bigger adjustments. The exception was corn, where export demand was raised. “Corn for export last month was at 3.075 billion bushels, and now we’re at 3.2 billion bushels, a record amount,” she said. The shift lowered ending stocks from 2.154 billion bushels to 2.02 billion.