The WASDE whispers: What markets did not hear on June 12

The WASDE whispers: What markets did not hear on June 12

From RaboResearch Agri Commodities by Rabobank RaboResearch Food & Agribusiness

June 16, 2025 · 16 min

About this episode

The episode discusses the significance of the USDA's June WASDE report and its implications for agricultural markets.

Join Carlos Mera and Charles Hart as they unpack the USDA's June WASDE report in the latest ACMR podcast. At first – and even second – glance, this month's WASDE might seem like a nonevent. The absence of revisions to major forecasts was conspicuous, but the changes that the USDA did not make are where the report's significance lies. We'll examine the department's current harvest outlooks for several major wheat producers, including the EU, Canada, and the US, and why the US corn and soybean balance sheets were left unchanged – except for an anticipated bump in corn exports in 2024/25. The USDA's modeling of crop yields will ensure the market keeps a close eye on weather conditions in the months ahead, while the soybean export forecast for the new season will continue to be debated amid a volatile US-China relationship. Weather risks to crop prospects in Argentina and Ukraine are also discussed before the episode closes with an initial view on how Israel's recent strikes on Iran could affect agricultural commodities markets. Please read our disclaimer here: https://www.rabobank.com/knowledge/disclaimer/011417272/disclaimer

People in this episode

Host: Carlos Mera

Guest: Charles Hart

Topics covered

Keywords

Mentioned in this episode

Organizations: USDA

Places: EU, Canada, US, Argentina, Ukraine, Israel, Iran

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