USDA July 11 WASDE Report to Include Revisions to U.S. Rice and U.S. Sugar Tables
Date Posted: July 2, 2008
Washington—The July 11 World Agricultural Supply and Demand Estimates (WASDE) report will reflect a change in the U.S. rice table.
Because the Food, Conservation, and Energy Act of 2008 (2008 Farm Bill) authorizes the Secretary of Agriculture to make counter-cyclical payments to rice producers using rice-by-class payment rates, the July 11 WASDE report, on page 14, will forecast the average price received by farmers for U.S. rice-by-class, i.e., for long-grain rice and medium-grain rice, which also includes short-grain rice, for the 2007/08 and 2008/09 marketing years.
The price forecasts for 2007/08 and 2008/09 will appear in a range format.
The price estimates for 2006/07 will appear as a point estimate and reflect the rice-by-class prices reported by the National Agricultural Statistics Service (NASS) in the Agricultural Prices report, January 2008.
The 2008 Farm Bill also requires USDA to 1) publish information on the production, consumption, stocks, and trade of sugar in Mexico; and 2) publish publicly available information on Mexican production, consumption, and trade of high fructose corn syrups (HFCS).
Therefore, the July 11 WASDE, on page 16, will include a new table which provides the required information on Mexican sugar for the fiscal years 2006/07, estimated 2007/08, and projected 2008/09.
U.S. exports of HFCS for 2006/07 and 2007/08 to date will appear in the table's footnote.
The WASDE report will be issued at 8:30 a.m. July 11 by the World Agricultural Outlook Board of USDA's Office of the Chief Economist.
For more information, call 202-720-4623.
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