On Thursday, February 8, the U.S. Department of Agriculture released its monthly World Agricultural Supply and Demand Estimates report, or the WASDE. Each month, the USDA releases the report that contains valuable data on supplies from producing regions around the world. Market participants anxiously await the release of the report. Their consensus estimates when it comes to crop yields, and inventories around the globe often differ from the USDA's numbers which lead to market volatility in the aftermath of the report's release. Additionally, the WASDE contains data on the demand side of the fundamental equation