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Midweek Markets: Will WASDE data be a blessing or a curse?

Catch up on our latest round of market analysis, including soybean’s 12-session winning streak, why wheat prices jumped double digits and more. (audio)

Ben Potter

September 10, 2020

2 Min Read
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It has been a short but action-packed week so far in the grain markets, but Friday may prove to be the biggest chance to swing the needle – in either direction. That’s because USDA releases two highly anticipated reports Friday morning.

The first is the agency’s weekly export report, which will be released a day later than normal due to the Labor Day holiday on Monday. That report comes out at 7:30 a.m. CST.

Then, at 11 a.m. CST, USDA drops its September World Agriculture Supply and Demand Estimates (WASDE) report. Traders are eager to learn how adverse weather suffered through August affected yield and production potential. Analysts expect average corn yields to slide to 178.3 bushels per acre, with average soybean yields falling to 51.8 bpa.

But USDA’s numbers could go even lower than those estimates – or, they could rattle the markets by coming in with higher-than-expected supply data.

We also shared our latest thoughts on outside markets that sometimes influence grain prices, including the stock market, energy prices, the U.S. Dollar, gold and copper – all of which have shown plenty of volatility this spring and summer.

Listen to the latest Midweek Markets podcast for September 10, 2020:

Farm Futures Market Update · MM PODCAST 2020 - 09 - 10

 

About the Author(s)

Ben Potter

Senior editor, Farm Futures

Senior Editor Ben Potter brings more than 14 years of professional agricultural communications and journalism experience to Farm Futures. He began working in the industry in the highly specific world of southern row crop production. Since that time, he has expanded his knowledge to cover a broad range of topics relevant to agriculture, including agronomy, machinery, technology, business, marketing, politics and weather. He has won several writing awards from the American Agricultural Editors Association, most recently on two features about drones and farmers who operate distilleries as a side business. Ben is a graduate of the University of Missouri School of Journalism.

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