Market News & Headlines >> USDA to Make WASDE changes
USDA is making some changes to the format of its monthly World Agricultural Supply and Demand Estimates (WASDE) report starting with the upcoming May report.
According to a notice on website for the Office of the Chief Economist, some of the major changes include:
- Price range forecasts will be eliminated in favor of single price points for all crops and livestock.
- The international Supply and Use tables for Crops will include an aggregate value for “World less China,” representing the balance sheet values outside of China.
- The ordering of countries and lists of Major Importers/Exporters will be updated to eliminate outdated aggregations (such as “Former Soviet Union"), and better reflect current trade patterns.
On the world wheat balance sheet, Russia and Ukraine will be moved under the “Major Exporter” heading. The countries in the category of “Major Exporters” will now Argentina, Australia, Canada, the European Union, Russia, and Ukraine. Bangladesh, Japan, and Nigeria will be added under the “Major Importers” heading and Pakistan will be removed.
Also, Russia and Ukraine will be added to major exporters (moved from selected other) for coarse grains and corn.
The May WASDE report, due to be released on May 10, will also contain USDA’s first monthly estimates for 2019/20 supply/demand levels.