World Agricultural Supply and Demand Estimates
Encyclopedia
The World Agricultural Supply and Demand Estimates (WASDE) is a monthly report
published by the United States Department of Agriculture
(USDA) providing comprehensive forecasts of supply and demand
for major global crops and U.S.
livestock
. The report provides an analysis
of the fundamental condition of the agricultural commodity markets
and is beneficial to farmers, governments and other market participant
s. The WASDE report is compiled using information
from a number of statistical reports produced by the USDA and other governmental agencies. It is widely considered to be the benchmark to which all other private and public agricultural forecasts are compared.
The recent releases of the WASDE report provide forecasts covering:
The WASDE report is generally released between the 8th and 12th of each month at 8:30AM Eastern Standard Time
. It is available in electronic form, as a PDF or text file
and can be downloaded from the USDA
website from the time of release. Subscription to the report can be made through the Albert R. Mann Library for delivery by E-mail
shortly after release on the Internet
. As a work of the U.S. Government
, the WASDE reports are released into the public domain
in accordance with U.S. copyright law
, .
The first direct predecessor of the WASDE report was released on September 17, 1973, as the Agricultural Supply and Demand Estimates. It was originally focused on supply
, demand
and trade
in the United States
. On October 14, 1980, the report was released for the first time as the World Agricultural Supply and Demand Estimates and it was the first report to provide categorized estimates for the world, U.S.
, total foreign, major importers and major exporters. Estimates for individual countries were first included in the report released on January 11, 1985.
Report
A report is a textual work made with the specific intention of relaying information or recounting certain events in a widely presentable form....
published by the United States Department of Agriculture
United States Department of Agriculture
The United States Department of Agriculture is the United States federal executive department responsible for developing and executing U.S. federal government policy on farming, agriculture, and food...
(USDA) providing comprehensive forecasts of supply and demand
Supply and demand
Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers , resulting in an...
for major global crops and U.S.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
livestock
Livestock
Livestock refers to one or more domesticated animals raised in an agricultural setting to produce commodities such as food, fiber and labor. The term "livestock" as used in this article does not include poultry or farmed fish; however the inclusion of these, especially poultry, within the meaning...
. The report provides an analysis
Analysis
Analysis is the process of breaking a complex topic or substance into smaller parts to gain a better understanding of it. The technique has been applied in the study of mathematics and logic since before Aristotle , though analysis as a formal concept is a relatively recent development.The word is...
of the fundamental condition of the agricultural commodity markets
Commodity markets
Commodity markets are markets where raw or primary products are exchanged. These raw commodities are traded on regulated commodities exchanges, in which they are bought and sold in standardized contracts....
and is beneficial to farmers, governments and other market participant
Market participant
The term market participant is used in United States constitutional law to describe a U.S. State which is acting as a producer or supplier of a marketable good or service. When a state is acting in such a role, it may permissibly discriminate against non-residents. This principle was established by...
s. The WASDE report is compiled using information
Information
Information in its most restricted technical sense is a message or collection of messages that consists of an ordered sequence of symbols, or it is the meaning that can be interpreted from such a message or collection of messages. Information can be recorded or transmitted. It can be recorded as...
from a number of statistical reports produced by the USDA and other governmental agencies. It is widely considered to be the benchmark to which all other private and public agricultural forecasts are compared.
The recent releases of the WASDE report provide forecasts covering:
- Crops (U.S.United StatesThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
and worldWorldWorld is a common name for the whole of human civilization, specifically human experience, history, or the human condition in general, worldwide, i.e. anywhere on Earth....
) including wheatWheatWheat is a cereal grain, originally from the Levant region of the Near East, but now cultivated worldwide. In 2007 world production of wheat was 607 million tons, making it the third most-produced cereal after maize and rice...
, riceRiceRice is the seed of the monocot plants Oryza sativa or Oryza glaberrima . As a cereal grain, it is the most important staple food for a large part of the world's human population, especially in East Asia, Southeast Asia, South Asia, the Middle East, and the West Indies...
, cornMaizeMaize known in many English-speaking countries as corn or mielie/mealie, is a grain domesticated by indigenous peoples in Mesoamerica in prehistoric times. The leafy stalk produces ears which contain seeds called kernels. Though technically a grain, maize kernels are used in cooking as a vegetable...
, sorghumSorghumSorghum is a genus of numerous species of grasses, one of which is raised for grain and many of which are used as fodder plants either cultivated or as part of pasture. The plants are cultivated in warmer climates worldwide. Species are native to tropical and subtropical regions of all continents...
, barleyBarleyBarley is a major cereal grain, a member of the grass family. It serves as a major animal fodder, as a base malt for beer and certain distilled beverages, and as a component of various health foods...
, oatsOATSOATS - Open Source Assistive Technology Software - is a source code repository or "forge" for assistive technology software. It was launched in 2006 with the goal to provide a one-stop “shop” for end users, clinicians and open-source developers to promote and develop open source assistive...
, soybeans, cottonCottonCotton is a soft, fluffy staple fiber that grows in a boll, or protective capsule, around the seeds of cotton plants of the genus Gossypium. The fiber is almost pure cellulose. The botanical purpose of cotton fiber is to aid in seed dispersal....
, and sugarSugarSugar is a class of edible crystalline carbohydrates, mainly sucrose, lactose, and fructose, characterized by a sweet flavor.Sucrose in its refined form primarily comes from sugar cane and sugar beet...
. - LivestockLivestockLivestock refers to one or more domesticated animals raised in an agricultural setting to produce commodities such as food, fiber and labor. The term "livestock" as used in this article does not include poultry or farmed fish; however the inclusion of these, especially poultry, within the meaning...
(U.S.United StatesThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
only) including meat animals, poultryPoultryPoultry are domesticated birds kept by humans for the purpose of producing eggs, meat, and/or feathers. These most typically are members of the superorder Galloanserae , especially the order Galliformes and the family Anatidae , commonly known as "waterfowl"...
, and dairyDairyA dairy is a business enterprise established for the harvesting of animal milk—mostly from cows or goats, but also from buffalo, sheep, horses or camels —for human consumption. A dairy is typically located on a dedicated dairy farm or section of a multi-purpose farm that is concerned...
.
The WASDE report is generally released between the 8th and 12th of each month at 8:30AM Eastern Standard Time
Eastern Standard Time
Eastern Standard Time may refer to:*North American Eastern Time Zone, UTC-5*Australian Eastern Standard Time, UTC+10*An album by Hip Hop group Kooley High...
. It is available in electronic form, as a PDF or text file
Text file
A text file is a kind of computer file that is structured as a sequence of lines of electronic text. A text file exists within a computer file system...
and can be downloaded from the USDA
United States Department of Agriculture
The United States Department of Agriculture is the United States federal executive department responsible for developing and executing U.S. federal government policy on farming, agriculture, and food...
website from the time of release. Subscription to the report can be made through the Albert R. Mann Library for delivery by E-mail
E-mail
Electronic mail, commonly known as email or e-mail, is a method of exchanging digital messages from an author to one or more recipients. Modern email operates across the Internet or other computer networks. Some early email systems required that the author and the recipient both be online at the...
shortly after release on the Internet
Internet
The Internet is a global system of interconnected computer networks that use the standard Internet protocol suite to serve billions of users worldwide...
. As a work of the U.S. Government
Work of the United States Government
A work of the United States government, as defined by United States copyright law, is "a work prepared by an officer or employee of the U.S. government as part of that person's official duties." The term only applies to the work of the federal government, including the governments of "non-organized...
, the WASDE reports are released into the public domain
Public domain
Works are in the public domain if the intellectual property rights have expired, if the intellectual property rights are forfeited, or if they are not covered by intellectual property rights at all...
in accordance with U.S. copyright law
United States copyright law
The copyright law of the United States governs the legally enforceable rights of creative and artistic works under the laws of the United States.Copyright law in the United States is part of federal law, and is authorized by the U.S. Constitution...
, .
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. 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. It was originally focused on supply
Supply (economics)
In economics, supply is the amount of some product producers are willing and able to sell at a given price all other factors being held constant. Usually, supply is plotted as a supply curve showing the relationship of price to the amount of product businesses are willing to sell.In economics the...
, demand
Demand (economics)
In economics, demand is the desire to own anything, the ability to pay for it, and the willingness to pay . The term demand signifies the ability or the willingness to buy a particular commodity at a given point of time....
and trade
Trade
Trade is the transfer of ownership of goods and services from one person or entity to another. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and...
in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. On October 14, 1980, the report was released for the first time as the World Agricultural Supply and Demand Estimates and it was the first report to provide categorized estimates for the world, U.S.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, total foreign, major importers and major exporters. Estimates for individual countries were first included in the report released on January 11, 1985.
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