On Friday, August 12, the USDA released its August World Agriculture Supply and Demand Estimate (WASDE) report. The report provided updated estimates on supply and demand for most major agricultural commodities. The biggest news out of the report was the substantial U.S. cotton acreage abandoned and lower cotton yields, which led to significant reduction in production estimates.
More below:
https://www.usda.gov/oce/commodity/wasde/wasde0822.pdf
https://www.usda.gov/oce/commodity-markets/wasde/secretary-briefing
Arkansas Crop Production Report
Analysis:
WASDE Cotton: U.S. Production Reduced Nearly 3Mln Bales 8-12
WASDE Oilseeds: Higher Domestic Soybean Production, Exports, Ending Stocks 8-12
WASDE Rice: Higher U.S. Ending Stocks Despite Unchanged Usage 8-12
WASDE Coarse Grains: Smaller U.S. Corn Exports, Lower Ending Stocks 8-12
WASDE Wheat: Increased Domestic Use, Exports; Reduced Ending Stocks 8-12