History
Predecessor publications date back to the 19th century. In 1893, the USDA Division of Statistics published Production and distribution of the principal agricultural products of the world, a miscellaneous report representing several months of work in compiling the first overview of production of major crops around the world. [7] Subsequent such reports appeared irregularly, and evolved by the 1960s into commodity-oriented circulars published at regular intervals by USDA agencies.
The first direct predecessor of the WASDE report was released on September 17, 1973, as the Agricultural Supply and Demand Estimates. [8] It was originally focused on supply, demand and trade in the United States. [8] On October 14, 1980, the report was released for the first time as the World Agricultural Supply and Demand Estimates and it was the first report to provide categorized estimates for the world, US, total foreign, major importers and major exporters. [8] Estimates for individual countries were first included in the report released on January 11, 1985. [8]
Canola oil is a vegetable oil derived from a variety of rapeseed that is low in erucic acid, as opposed to colza oil. There are both edible and industrial forms produced from the seed of any of several cultivars of the plant family Brassicaceae.
An agricultural subsidy is a government incentive paid to agribusinesses, agricultural organizations and farms to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such commodities. Examples of such commodities include: wheat, feed grains, cotton, milk, rice, peanuts, sugar, tobacco, oilseeds such as soybeans and meat products such as beef, pork, and lamb and mutton.
Vegetable oils, or vegetable fats, are oils extracted from seeds or from other parts of fruits. Like animal fats, vegetable fats are mixtures of triglycerides. Soybean oil, grape seed oil, and cocoa butter are examples of seed oils, or fats from seeds. Olive oil, palm oil, and rice bran oil are examples of fats from other parts of fruits. In common usage, vegetable oil may refer exclusively to vegetable fats which are liquid at room temperature. Vegetable oils are usually edible.
Agriculture in the United States is highly mechanized, with an average of only one farmer or farming labor being required per square kilometer of farmland in average for agricultural production.
A cash crop or profit crop is an agricultural crop which is grown to sell for profit. It is typically purchased by parties separate from a farm. The term is used to differentiate marketed crops from staple crop in subsistence agriculture, which are those fed to the producer's own livestock or grown as food for the producer's family.
The Economic Research Service (ERS) is a component of the United States Department of Agriculture (USDA) and a principal agency of the Federal Statistical System of the United States. It provides information and research on agriculture and economics.
The Foreign Agricultural Service (FAS) is the foreign affairs agency with primary responsibility for the United States Department of Agriculture's (USDA) overseas programs — market development, international trade agreements and negotiations, and the collection of statistics and market information. It also administers the USDA's export credit guarantee and food aid programs and helps increase income and food availability in developing nations by mobilizing expertise for agriculturally led economic growth. The FAS mission statement reads, "Linking U.S. agriculture to the world to enhance export opportunities and global food security," and its motto is "Linking U.S. Agriculture to the World."
The National Agricultural Statistics Service (NASS) is the statistical branch of the U.S. Department of Agriculture and a principal agency of the U.S. Federal Statistical System. NASS has 12 regional offices throughout the United States and Puerto Rico and a headquarters unit in Washington, D.C. NASS conducts hundreds of surveys and issues nearly 500 national reports each year on issues including agricultural production, economics, demographics and the environment. NASS also conducts the United States Census of Agriculture every five years.
Genetically modified crops are plants used in agriculture, the DNA of which has been modified using genetic engineering methods. Plant genomes can be engineered by physical methods or by use of Agrobacterium for the delivery of sequences hosted in T-DNA binary vectors. In most cases, the aim is to introduce a new trait to the plant which does not occur naturally in the species. Examples in food crops include resistance to certain pests, diseases, environmental conditions, reduction of spoilage, resistance to chemical treatments, or improving the nutrient profile of the crop. Examples in non-food crops include production of pharmaceutical agents, biofuels, and other industrially useful goods, as well as for bioremediation.
Soybean oil is a vegetable oil extracted from the seeds of the soybean. It is one of the most widely consumed cooking oils and the second most consumed vegetable oil. As a drying oil, processed soybean oil is also used as a base for printing inks and oil paints.
Soft commodities, or softs, are commodities such as coffee, cocoa, sugar, corn, wheat, soybean, fruit and livestock. The term generally refers to commodities that are grown, rather than mined; the latter are known as hard commodities.
A low-carbon diet refers to making lifestyle choices related to food consumption to reduce resulting greenhouse gas emissions (GHGe). Choosing a low carbon diet is one facet of developing sustainable diets which increase the long-term sustainability of humanity.
World food prices increased dramatically in 2007 and the first and second quarter of 2008, creating a global crisis and causing political and economic instability and social unrest in both poor and developed nations. Although the media spotlight focused on the riots that ensued in the face of high prices, the ongoing crisis of food insecurity had been years in the making. Systemic causes for the worldwide increases in food prices continue to be the subject of debate. After peaking in the second quarter of 2008, prices fell dramatically during the late-2000s recession but increased during late 2009 and 2010, reaching new heights in 2011 and 2012 at a level slightly higher than the level reached in 2008. Over the next years, prices fell, reaching a low in March 2016 with the deflated Food and Agriculture Organization (FAO) food price index close to pre-crisis level of 2006.
The United States is the largest grower of commercial crops that have been genetically engineered in the world, but not without domestic and international opposition.
A marketing year is a period of one year, designated for reporting and (or) analysis of production, marketing and disposition of a commodity. Because of year-to-year fluctuations in production, much marketing and disposition of some commodities may reflect production that occurred during a previous calendar year. For this reason, analysis is often facilitated if the marketing year for a crop commences at about the time of harvest. However, world markets or other factors may also influence choice of beginning date for the marketing year for some commodities in some countries. Especially in the case of certain perishable fresh fruits and vegetables, the marketing year may be less than a full year in length, because economic activity of interest for reporting and analysis may be concluded within just a few months.
Agriculture is a major industry in the U.S. commonwealth of Pennsylvania. As of the most recent United States Census of Agriculture conducted in 2017, there were 53,157 farms in Pennsylvania, covering an area of 7,278,668 acres with an average size of 137 acres per farm. In 2016, Pennsylvania ranked first in the United States in Agaricus mushroom production, fourth in apple production, fourth in Christmas tree production, fifth in dairy sales, fifth in grape production, and seventh in winemaking.
The production of corn plays a major role in the economy of the United States. The US is the largest corn producer in the world, with 96,000,000 acres (39,000,000 ha) of land reserved for corn production. Corn growth is dominated by west/north central Iowa and east central Illinois. Approximately 13% of its annual yield is exported.
A staple food, food staple, or simply a staple, is a food that is eaten often and in such quantities that it constitutes a dominant portion of a standard diet for a given person or group of people, supplying a large fraction of energy needs and generally forming a significant proportion of the intake of other nutrients as well. A staple food of a specific society may be eaten as often as every day or every meal, and most people live on a diet based on just a small number of food staples. Specific staples vary from place to place, but typically are inexpensive or readily available foods that supply one or more of the macronutrients and micronutrients needed for survival and health: carbohydrates, proteins, fats, minerals, and vitamins. Typical examples include tubers and roots, grains, legumes, and seeds. Among them, cereals, legumes, tubers, and roots account for about 90% of the world's food calories intake.
R. Conrad Leslie Jr. was an American businessman and crop forecaster, described by The New York Times as "the nation's leading private harvest forecaster". His monthly corn, soybean, and wheat production estimates were very influential, and his opinions were well-regarded by various news outlets. The majority of interest in his daily price interpretations and daily market observations came from brokers and their clients such as Thomson McKinnon and ADM Investors Services. He died in December 2018 at the age of 95.
Live cattle is a type of futures contract that can be used to hedge and to speculate on fed cattle prices. Cattle producers, feedlot operators, and merchant exporters can hedge future selling prices for cattle through trading live cattle futures, and such trading is a common part of a producer's price risk management program. Conversely, meat packers, and merchant importers can hedge future buying prices for cattle. Producers and buyers of live cattle can also enter into production and marketing contracts for delivering live cattle in cash or spot markets that include futures prices as part of a reference price formula. Businesses that purchase beef as an input could also hedge beef price risk by purchasing live cattle futures contracts.
