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Commodity Markets

The World Agricultural Outlook Board (WAOB), within the office of the Chief Economist, serves as USDA’s focal point for economic intelligence and the commodity outlook for U.S. and world agriculture. It coordinates, reviews, and approves the monthly World Agricultural Supply and Demand Estimates (WASDE) report, as well as the Department’s annual, ten-year agricultural commodity market projections. The WAOB also releases annual projections covering agricultural commodities, trade, and aggregate indicators of the sector for the next decade. The monthly World Agricultural Supply and Demand Estimates Report and the long-run projections are available in the Agricultural Baseline Report. In addition, in February each year, USDA Chief Economist releases preliminary projections for domestic supply and demand of agricultural commodities at USDA’s Agricultural Outlook Forum.

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