Beginning in January 2013, USDA will release several major statistical reports at 11 a.m. Central Time, including the World Agricultural Supply and Demand Estimates, Acreage, Crop Production, Grain Stocks, Prospective Plantings, and Small Grains Summary. These reports are currently released at 7:30 a.m. CT.
Earlier this year, USDA sought public comments on release times for the reports. Between June 8 and July 9, 2012, 147 comments were submitted through an online response site and via letter and email. The comments received may be viewed here:
“The shift to a noon release allows for the greatest liquidity in the markets, provides the greatest access to the reports during working hours in the United States, and continues equal access to data among all parties,” said USDA Chief Economist Joseph W. Glauber in a news release.
DTN Senior Analyst Darin Newsom said the time change shouldn't make a huge difference in the markets, “except traders will be more rested when numbers are released. Most of the volume seems to occur during the first and last half-hour, so this will give traders something to do over the course of the day. Reports in general have been largely swallowed up by the 'wider river' (expanded hours, expanded daily limits), so a noon (Eastern Time) release isn't expected to make that much more of a splash.”
Under the Freedom of Information Act (FOIA) and Office of Management and Budget (OMB) Statistical Policy Directives 3 and 4, rules are in place to regulate the public's access to federally generated statistics. The 2012 official published schedule for all NASS reports is available online at www.nass.usda.gov/Publications/index.asp. The World Agricultural Outlook Board (WAOB) report schedule is available at www.usda.gov/oce/commodity/wasde.
Posted by Northern Ag Network