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USDA's Corn, Soybean and Wheat Estimates

10:39AM Feb 24, 2012

The following are supply and demand estimates released by USDA today the the Ag Outlook Forum.

 

 

 

 Soybean S&D Data from 2012 USDA Agricultural Outlook Forum, February 24, 2012.                                  2009/10     2010/11  2011/12 1/  2012/13 2/ Area planted (mil. ac.)           77.5        77.4        75.0    75.0 Area harvested                    76.4        76.6        73.6    74.1 Yield (bu./ac.)                   44.0        43.5        41.5    43.9 Production (mil. bu.)            3,359       3,329       3,056    3,250 Beginning stocks                   138         151         215     275 Imports                             15          14          15      15 Supply                           3,512       3,495       3,286    3,540 Crush                            1,752       1,648       1,615    1,660 Seed                                90          87          88      89 Residual                            20          43          32      37 Total domestic use               1,862       1,778       1,736    1,785 Exports                          1,499       1,501       1,275    1,550 Total use                        3,361       3,280       3,011    3,335 Ending stocks                      151         215         275     205 Stocks/use (percent)               4.5         6.6         9.1     6.1 Season-avg. farm price ($/bu.)    9.59       11.30       11.70   11.50  1/ Acreage, yield, production, and beginning stocks are estimates from the National Agricultural Statistics Service. Imports, crush, exports, ending stocks, and season-average farm price are projections from the World Agricultural Supply and Demand Estimates, February 9, 2012. The season-average price is the midpoint of the projected range from the same report.  2/ Projections based on analysis by the USDA s Oilseeds Interagency Commodity Estimates Committee. Note: Totals may not add due to rounding.    Wheat S&D data from 2012 Agricultural Outlook Forum, February 24, 2012.                               2009/10      2010/11  2011/12 1/  2012/13 2/ Area planted (mil. ac.)          59.2        53.6        54.4     58.0 Area harvested                   49.9        47.6        45.7     48.7 Yield (bu./ac.)                  44.5        46.3        43.7     44.5 Production (mil. bu.)           2,218       2,207       1,999     2,165 Beginning stocks                  657         976         862      845 Imports                           119          97         120      120 Supply                          2,993       3,279       2,982     3,130 Feed & residual                   150         132         145      180 Food, seed & industrial           988         997       1,017     1,018 Total domestic use              1,138       1,128       1,162     1,198 Exports                           879       1,289         975      975 Total use                       2,018       2,417       2,137     2,173 Ending stocks                     976         862         845      957 Stocks/use (percent)             48.4        35.7        39.5     44.0 Season-avg. farm price ($/bu.)   4.87        5.70        7.30     6.30   1/ Acreage, yield, production, and beginning stocks are estimates from the National Agricultural Statistics Service. Imports, use, ending stocks, and season-average farm price are projections from the World Agricultural Supply and Demand Estimates, February 9, 2012. The season-average price is the midpoint of the projected range from the same report. 2/ Projections based on analysis by USDA s Wheat Interagency Commodity Estimates Committee. Note: Totals may not add due to rounding.    Corn S&D data from 2012 USDA Agricultural Outlook Forum, February 24, 2012.                                 2009/10     2010/11  2011/12 1/  2012/13 2/ Area planted (mil. ac.)            86.4        88.2        91.9      94.0 Area harvested                     79.5        81.4        84.0      87.0 Yield (bu./ac.)                   164.7       152.8       147.2     164.0 Production (mil. bu.)            13,092      12,447      12,358    14,270 Beginning stocks                  1,673       1,708       1,128       801 Imports                               8          28          20        15 Supply                           14,774      14,182      13,506    15,086 Feed & residual                   5,125       4,793       4,600     5,200 Ethanol 3/                        4,591       5,021       5,000     4,950 Food, seed & other industrial     1,370       1,407       1,405     1,420 Total food, seed & industrial     5,961       6,428       6,405     6,370 Total domestic use               11,086      11,220      11,005    11,570 Exports                           1,980       1,835       1,700     1,900 Total use                        13,066      13,055      12,705    13,470 Ending stocks                     1,708       1,128         801     1,616 Stocks/use (percent)               13.1         8.6         6.3      12.0 Season-avg. farm price ($/bu.)     3.55        5.18        6.20      5.00     %%RELATED_CONTENT%%