World Agricultural Supply and Demand Estimates Report (WASDE)

The World Agricultural Outlook Board (WAOB) serves as USDA’s focal point for economic intelligence and the commodity outlook for U.S. and world agriculture. The Board coordinates, reviews, and approves the monthly World Agricultural Supply and Demand Estimates (WASDE) report, houses OCE’s Joint Agricultural Weather Facility, and coordinates USDA’s Agricultural Outlook Forum.  

Each month, the U.S. Department of Agriculture (USDA) publishes crop supply and demand estimates for the Nation and the world. These estimates are used as benchmarks in the marketplace because of their comprehensive nature, objectivity, and timeliness.

The statistics that USDA releases affect decisions made by farmers, businesses, and governments, by defining the fundamental conditions in commodity markets. When using USDA statistics, it is helpful to understand the estimating procedures used and the nature and limitations of crop estimates.

Here are Supply and Demand estimates from the Department of Agriculture.

Click here to go to the World Agricultural Supply and Demand Estimates Report (WASDE).

 

A Few Definitions and Resources

It is Whiskey containing a minimum of 51% Rye Grain, then aged for at least 2 years in a new charred oak barrel.

Bourbon is America’s native whiskey. While Kentucky is home to the vast majority of America’s bourbon production, bourbon can be made anywhere in the United States.

Moonshine is illegally distilled homemade whisky, usually with a very high alcohol content. It got its name because it was normally distilled at night “by the light of the moon.” Most moonshine is distilled in West Virginia, Kentucky and Virginia. Moonshiners are the people who actually make the alcohol. (Urban Dictionary)

Grain that, before the removal of dockage, consists of 50 percent or more of common rye (Secale cereale L.) and not more than 10 percent of other grains for which standards have been established under the United States Grain Standards Act and that, after the removal of dockage, contains 50 percent or more of whole rye.

Whiskey Trivia

The discovery of bourbon is attributed to the Reverent Elijah Craig, who created a new whiskey elixir from a combination of corn, rye, barley malt and other grains. Craig lived in Georgetown, located in one of the original Virginia counties that came to make up the Kentucky territory. As time went on, so much of this “corn whiskey” was produced in and around Bourbon County, Kentucky, it was simply called “bourbon” and often “Kentucky Bourbon”.

In Kentucky, USA. The state has around 12 operating distilleries that produce 90% – 95% of the world’s supply of bourbon. Bourbon can be made outside this region, but you can’t add the state name to the label as only Kentucky has this distinction.

Bourbon has now become a loved and respected whiskey the world over. In fact, bourbon is Kentucky’s leading export. In recent years it has attained great popularity here in Australia and other countries outside the USA including Japan, the UK, France and Germany.

Proof refers to alcoholic strength, with one point of proof being equivalent to 0.5% alcohol. Therefore, 100% proof equals 50% alcohol. Proof was originally determined by mixing equal quantities of liquor and gunpowder together and applying a flame. If the gunpowder failed to light, the spirit was too weak. If it burned too brightly, it was too strong. If the mixture burned evenly, with a blue flame, it was said to have been “just right”, or “100% proved right”. Thus, the phrase, “100% Proof” entered the language as the standard by which the strength of alcohol was gauged.