USDA WASDE March Report

USDA WASDE March Report

WASDE March Report
I’m KayDee Gilkey with today’s Northwest Farm and Ranch Report.

Friday morning USDA released its World Agricultural Supply and Demand Estimates data or WASDE report. Jim Bower of Bower Trading gives an overview.

Bower 45: “There was a little bit of something for everybody in the report: bullish, bearish, and neutral. But overall if I was to classify the report today, in general I would say it was some what of a neutral report relatively well anticipated by the trade.”

Bower shares his observations of the U.S. wheat numbers.

Bower3:00: “The U.S. total ending stocks came in at 716 million and that is above the trade number in February of 691 million -- that would be the 25 million increase we talked about. So nothing terribly earth shattering there.”

He shares that while the ending stocks had gains

Bower1:40 : “The U.S. wheat exports were down about 25 million but that is equal to the increase in stocks. So again, probably as of right now a few minutes after the market got the numbers, it is already dialed in.”

There is higher world wheat production as it bumped higher from 653.6M up to 655.5M; World wheat ending Stocks pushed higher as well from 176.7M to 178.2M Tons.
 

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