Report on the forecasts of the harvest and output of agricultural products by farms of the world (World Agricultural Supply and Demand Estimates)
The report was named in the form of an abbreviation made up of the first letters – WASDE. This is an authoritative document, with a fundamentally sound study compiled on the basis of an array of data supplied by government agencies, including NASA, probing the Earth with the help of artificial satellites.
The document is the most cited international standard, which is referred to by various publications of other states and departments, as well as private analysts and experts.
The report is published in open access and covers:
- World market agricultural crops: wheat, rice, corn, sorghum, barley, oats, soybeans, cotton and sugar Animal husbandry only US market: pork, beef, poultry and dairy products
WASDE publication format and time
A report on agricultural products and livestock products, as well as the level of supply and demand, is issued by the USDA Department at the end of the first decade of each month. The multi-page document is published on the agency's website and is duplicated by analytical agencies at 19-00 Moscow time.
The impact of the WASDE report on the Forex market
Investors and speculators prefer to analyze WASDE using the" processing " and comments of Bloomberg, which provides a concise, abstract version that emphasizes the main places and figures that should be paid attention to.
The publication has a sharp, speculative impact on quotes of futures for agricultural products reflected in the report, both on the eve of the release and at the time of publication of the report. The expected and actual level of supply and demand changes the course up or down.
There are many CFD contracts for cereals, legumes, sugar, etc. on the Forex market, so traders working with these derivatives, you should pay special attention to the WASDE output.
On currency pairs the published indicators do not have an impact due to the low share (4.9%) of agricultural products in the GDP of the world's first economy.