August 2019 WASDE Update

Staff Report No. 2019-44

Corn and soybeans continue to take center stage of the agricultural outlook for 2019. On August 12th the USDA released its WASDE report that updated its forecasts for 2019/2020 production and use. With a challenging planting season for corn and soybeans, there were significant expectations for reduced acres and production for both crops. After the release of the July WASDE update the expectation was for corn acres in particularly to be significantly reduced. However, the August WASDE report showed that corn acres were up slightly from a year ago (up 0.9 million acres over 2018) and total production down only 4% from 2018. The futures markets reacted to the news.

View or download the PDF for an overview of the reported numbers, discussion of where some uncertainty still lies and current marketing potential.

8/22/2019 1:55:19 PM
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