WASDE & USDA Reports

WASDE reports (World Agricultural Supply and Demand Estimates) are the USDA's monthly release of production, consumption and stock forecasts for major agricultural commodities — corn, wheat, soybeans and more. They're published on a fixed monthly schedule and routinely move grain and oilseed futures within minutes of release, as commercial and speculative traders reprice their positions around the new supply/demand balance.

 

On this page you'll find a running analysis of each WASDE release, month by month, paired with COT positioning context: how commercial hedgers and large speculators were positioned going into the report, and how that positioning shifted afterward. If you're new to WASDE, start with [WASDE Explained — Why It Moves Grain Markets], which walks through the report structure and the key figures traders watch (yield, ending stocks, stocks-to-use ratio).

Each monthly write-up below combines the headline WASDE numbers with seasonality and COT data to frame what the market reaction means for positioning going forward — not just what changed, but why it mattered.