The World Agricultural Outlook Board (WAOB) releases the World Agricultural Supply and Demand Estimates Report, or the WASDE report every month.The Interagency Commodity Estimates Committees (ICECs), chaired by the WAOB, prepare a report that forecasts the global supply and demand of commodities. The commodities that are followed in the report include but are not limited to wheat, rice, coarse grains, oilseeds, and cotton. The report also covers the U.S. supply and demand for other commodities like sugar, meat, poultry, eggs, and milk/dairy. Furthermore, the report covers another commodity: Mexico's sugar supply and demand.
Active traders in commodity futures follow closely to what is reported for a certain commodity when the monthly WASDE report is released. In preparation for the WASDE report, the ICEC relies on information provided by the United States Department of Agriculture (USDA), including other government agencies such as the National Agriculture Statistic Service (NASS), to report production and stocks of a commodity. Once released, traders and investors trade commodity futures based on how they interpret the WASDE report.
