WASDE: Soybean production estimate raised

decrease font size  Resize text   increase font size       Printer-friendly version of this article Printer-friendly version of this article

According to the USDA's latest World Agricultural Supply and Demand Estimates (WASDE) report, U.S. oilseed production for 2012/13 is estimated at 92.7 million tons, up 1.4 million tons from last month. Larger crops for soybeans, sunflowerseed, and peanuts are partly offset by reductions for canola and cottonseed.

Soybean production is estimated at 3.015 billion bushels, up 44 million bushels based on increased yields and harvested area. The soybean yield is estimated at 39.6 bushels per acre, up 0.3 bushels from the previous estimate.

Soybean crush is raised 35 million bushels to 1.605 billion bushels reflecting higher projected domestic soybean meal consumption and increased soybean meal exports. Soybean meal domestic consumption is raised in line with projected gains in meat production, especially for pork and poultry. Soybean exports are unchanged at 1.345 billion bushels.

Soybean ending stocks for 2012/13 are projected at 135 million bushels, up 5 million from last month. Soybean oil balance sheet changes include increased production, exports, and ending stocks.

The projected range for the 2012/13 season-average soybean price is lowered 30 cents at the midpoint and narrowed to $13.50 to $15.00 per bushel. The soybean oil price is forecast at 49 to 53 cents perpound, unchanged from last month. The soybean meal price is projected at $430 to $460 per short ton, down 10 dollars on both ends of the range.

Global oilseed production for 2012/13 is projected at a record 465.8 million tons, up 2.8 million due to increases for soybeans, cottonseed, peanuts, and sunflowerseed.

Global soybean production is projected at 269.4 million tons, up 1.7 million with gains in the United States and Brazil only partly offset by a lower projection for Argentina.

The Brazil soybean crop is increased 1.5 million tons to a record 82.5 million reflecting record area and improving yield prospects.

Higher projected yields are the result of favorable moisture throughout the center west and southern growing areas.

The Argentina soybean crop is projected at 54 million tons, down 1 million mainly due to lower projected area resulting from excessive moisture throughout much of the central growing area. Other changes include increased cottonseed production in China and Australia, and increased sunflowerseed production in India and the United States.

Global oilseed trade for 2012/13 is projected at 115.3 million tons, up slightly from last month. Increased soybean exports for Brazil are offset by a comparable reduction for Argentina. Higher soybean meal exports mainly reflect increases for the United States and China. Soybean meal consumption and imports are projected higher for several countries including Indonesia, South Korea, Mexico, Russia, and Iran.

Global oilseed ending stocks are projected at 66.6 million tons, down 0.3 million from last month as reduced soybean stocks in Argentina and China are only partly offset by higher stocks in Brazil and the United States.


Buyers Guide

Doyle Equipment Manufacturing Co.
Doyle Equipment Manufacturing prides themselves as being “The King of the Rotary’s” with their Direct Drive Rotary Blend Systems. With numerous setup possibilities and sizes, ranging from a  more...
A.J. Sackett Sons & Company
Sackett Blend Towers feature the H.I.M, High Intensity Mixer, the next generation of blending and coating technology which supports Precision Fertilizer Blending®. Its unique design allows  more...
R&R Manufacturing Inc.
The R&R Minuteman Blend System is the original proven performer. Fast, precise blending with a compact foot print. Significantly lower horsepower requirement. Low inload height with large  more...
Junge Control Inc.
Junge Control Inc. creates state-of-the-art product blending and measuring solutions that allow you to totally maximize operating efficiency with amazing accuracy and repeatability, superior  more...
Yargus Manufacturing
The flagship blending system for the Layco product line is the fully automated Layco DW System™. The advanced technology of the Layco DW (Declining Weight) system results in a blending  more...
Yargus Manufacturing
The LAYCOTE™ Automated Coating System provides a new level of coating accuracy for a stand-alone coating system or for coating (impregnating) in an automated blending system. The unique  more...
John Deere
The DN345 Drawn Dry Spreader can carry more than 12 tons of fertilizer and 17.5 tons of lime. Designed to operate at field speeds up to 20 MPH with full loads and the G4 spreader uniformly  more...
Force Unlimited
The Pro-Force is a multi-purpose spreader with a wider apron and steeper sides. Our Pro-Force has the most aggressive 30” spinner on the market, and is capable of spreading higher rates of  more...
BBI Spreaders
MagnaSpread 2 & MagnaSpread 3 — With BBI’s patented multi-bin technology, these spreaders operate multiple hoppers guided by independent, variable-rate technology. These models are built on  more...


Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left


Kinze 1500 Grain Cart

The Kinze 1500 Grain Cart is engineered for speed and reliability required of custom harvesters. Load up to 1500 bushels ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form