December WASDE: The last one for 2025 & USDA punts!

• USDA punts any U.S. production changes to January
• Expect more volatility and market attention next month
• Corn
  • The only change? Increase to exports 
• Soy complex
  • No changes to the U.S. soybean balance sheet
• Wheat
  • Ditto for U.S. wheat balance sheet: No changes
  • Global wheat production rose further
    • Now a 5% increase vs. 2024/25
• Sugar
  • Beet sugar production lowered, while cane increased

Host: Michael Caughlan, President & CEO
Expert: Eric Thornton, VP
Expert: Kevin Combs, Vice President – Global Sweeteners Specialist