World Agricultural Supply and Demand Estimates
ISSN 1554-9089 | | |
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The World Agricultural Supply and Demand Estimates (WASDE) is a monthly report published by the United States Department of Agriculture (USDA) providing comprehensive forecast of supply and demand for major crops (global and United States) and livestock (U.S. only). The report provides an analysis of the fundamental condition of the agricultural commodity markets for the use of farmers, governments and other market participants.
The WASDE report is compiled using information from a number of statistical reports produced by the USDA and other government agencies.[1] It is widely considered to be the benchmark to which all other private and public agricultural forecasts are compared.[2][3][4][5]
The recent releases of the WASDE report provide forecasts covering:
- Crops (U.S. and global) including wheat, rice, corn, sorghum, barley, oats, soybeans, cotton, and sugar.
- Livestock (U.S. only) including meat animals, poultry, and dairy.
The WASDE report is generally released between the 8th and 12th of each month at 12:00 noon.
History
Predecessor publications date back to the 19th century. In 1893, the USDA Division of Statistics published Production and distribution of the principal agricultural products of the world, a miscellaneous report representing several months of work in compiling the first overview of production of major crops around the world.[7] Subsequent such reports appeared irregularly, and evolved by the 1960s into commodity-oriented circulars published at regular intervals by USDA agencies.
The first direct predecessor of the WASDE report was released on September 17, 1973, as the Agricultural Supply and Demand Estimates.
See also
Footnotes
- ^ a b WASDE Website
- ^ Outlook Reports: USDA Outlook Process
- ^ Olga Isengildina, Scott H. Irwin, and Darrel L. Good, "Empirical Confidence Intervals for WASDE Forecasts of Corn, Soybean and Wheat Prices" University of Illinois, April 17, 2006
- ^ Augusto C. Botto, Olga Isengildina, Scott H. Irwin, and Darrel L. Good, "Accuracy Trends and Sources of Forecast Errors in WASDE Balance Sheet Categories for Corn and Soybeans" University of Illinois, July 23, 2006
- ^ Olga Isengildina, Scott H. Irwin, Darrel L. Good, "Evaluation of USDA interval forecasts of corn and soybean prices" American Journal of Agricultural Economics, November 1, 2004
- ^ "WASDE Report".
- ^ United States. Dept. of Agriculture. Division of Statistics. Production and distribution of the principal agricultural products of the world. Washington, D.C.: U.S. Dept. of Agriculture, Division of Statistics, 1893., 205 pp., available in the National Agricultural Library, Call Number: 1 St2B no.5 [1]
- ^ a b c d Rich Allen, "Safeguarding America's Agricultural Statistics" U.S. Department of Agriculture, April 2007
External links
- United States Department of Agriculture and public domain policy.
- World Agricultural Supply and Demand Estimates Website
- Albert R. Mann Library
- Archive of Historical WASDE Reports
- Video: "How the WASDE Report Is Prepared" U.S. Department of Agriculture
- Rich Allen, "Safeguarding America's Agricultural Statistics" U.S. Department of Agriculture, April 2007
- "Understanding USDA Crop Forecasts" U.S. Department of Agriculture