Corn Commentary

First Crop Reports of New Year at New Time

This Friday, January 11, marks the start of a new release time for some USDA agricultural statistics reports.

The National Agricultural Statistics Service (NASS) and World Agricultural Outlook Board (WAOB) will begin this year issuing several major reports at noon Eastern time, including World Agricultural Supply and Demand Estimates (WASDE), Acreage, Crop Production, Grain Stocks, Prospective Plantings, and Small Grains Summary.

nafb12-nass-bass“That’s at the request of data users across the country and the world,” said Bob Bass, Director of National Operations for the USDA’s National Agricultural Statistics Service (NASS). “It’s a global economy now in the trading of commodities and everybody thought that noon would be a better time in order for people to get access to the information, digest it, understand what it says and then be on a level playing field.”

Bass says it is the first time in a while since the release time for these market-sensitive reports was changed. “Everything used to be at 3 pm Eastern, but many years ago just the crop and the crop products were moved to 8:30 am so traders could see the report and trade that day,” he said. “But anymore, trading is non-stop.”

The first reports of the new year to be released at the new time on Friday include the annual crop production report and the grain stocks report.