corn situation and outlook
DESCRIPTION
Corn Situation and Outlook. Historical Perspective and Outlook for 2007. Corn Production, Ending Stocks, and Price, 1992-2007. U.S. Corn Ending Stocks and Price, 1992-2007. U.S. & Foreign Corn Ending Stocks 1996-2007. Supply/Demand Projections:2007/2008. - PowerPoint PPT PresentationTRANSCRIPT
Corn Situation and Outlook
Historical Perspective and Outlook for 2007
Corn Production, Ending Stocks, and Price, 1992-2007
0
2000
4000
6000
8000
10000
12000
14000
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Mill
ion
bu
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
Production Ending Stocks Price/Bu
U.S. Corn Ending Stocks and Price, 1992-2007
0
500
1000
1500
2000
2500
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Mill
ion
bu
$1.50
$1.70
$1.90
$2.10
$2.30
$2.50
$2.70
$2.90
$3.10
$3.30
$3.50
Ending Stocks Price/Bu
U.S. & Foreign Corn Ending Stocks 1996-2007
010002000300040005000600070008000
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Year
Mill
ion
bu
sh
els
Foreign Stocks U.S. Ending Stocks
Supply/Demand Projections:2007/2008 Corn ----------Supply/Demand ----------
Low/High Exp/Exp High/Low
Beginning Stocks(MB) 1137 1137 1137Acres (MPA) 90.9 92.9 94.9Acres (MHA) 83.6 85.4 87.2Yield 142.0 150.3 158.4Supply(M. Bu) 13018 13992 14971 Use:
Feed 5700Ethanol 3400 Food, Seed 1390 Exports 2000
Ending Stocks 967 1502 2037Projected Price $3.50 $3.00 $2.50
Wheat Situation and Outlook
Historical Perspective and Outlook for 2007
Wheat Production, Ending Stocks, and Price, 1993-2007
0
500
1000
1500
2000
2500
3000
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Mill
ion
Bu
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
Production Ending Stocks Price/Bu
U.S. Wheat Ending Stocks and Price, 1993-2007
0
200
400
600
800
1000
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Mill
ion
Bu
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
$5.50
Ending Stocks Price/Bu
U.S. & Foreign Wheat Ending Stocks, 1996-2007
010002000300040005000600070008000
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Year
Mill
ion
bu
sh
els
Foreign Ending Stocks U.S. Ending Stocks
Supply/Demand Projections:2007/2008 Wheat ----------Supply/Demand ----------
Low/High Exp/Exp High/LowBeginning Stocks(MB) 456 456 456Acres (M. A. Planted) 60.0 60.5 61.0Acres (M.A. Harvested) 52.1 52.5 52.9Yield 39.9 40.7 41.5Supply(M. Bu) 2633 2694 2753 Use:
Food, Seed 1011 Feed, Resid 215 Exports 1050
Ending Stocks 359 418 476Projected Price $5.55 $5.20 $4.85
Soybean Situation and Outlook
Historical Perspective and Outlook for 2007
Soybean Production, Ending Stocks, and Price, 1993-2007
0
500
1000
1500
2000
2500
3000
3500
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Mill
ion
Bu
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
$7.00
$8.00
$9.00
Production Ending Stocks Price/Bu
U.S. Soybean Ending Stocks and Price, 1993-2007
0
100
200
300
400
500
600
700
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Mill
ion
Bu
$4.00
$4.50
$5.00
$5.50
$6.00
$6.50
$7.00
$7.50
$8.00
Ending Stocks Price/Bu
U.S. & Foreign Soybean Ending Stocks, 1996-2007
0
500
1000
1500
2000
2500
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Year
Mil
lio
n B
ush
els
Foreign Ending Stocks U.S. Ending Stocks
U.S. & Foreign Soybean Meal Ending Stocks, 1997-2007
0
1
2
3
4
5
6
7
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Year
Mil
lio
n M
etr
ic T
on
s
Foreign Ending Stocks U.S. Ending Stocks
U.S. & Foreign Soybean Oil Ending Stocks, 1997-2007
0
1
1
2
2
3
3
4
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Year
Mill
ion
Me
tric
To
ns
Foreign Ending Stocks U.S. Ending Stocks
Supply/Demand Projections:2007/2008 Soybeans ----------Supply/Demand ----------
Low/High Exp/Exp High/LowBeginning Stocks(MB) 600 600 600Acres (MA Planted) 62.6 64.1 65.6Acres (MA Harvested) 61.8 63.3 64.8Yield 39.9 41.5 43.0Supply(M. Bu) 3070 3229 3390 Use:
Crushing 1800 Exports 1020 Seed, Feed 164
Ending Stocks 143 245 347Projected Price $8.50 $7.50 $6.50
Grain Sorghum Situation and Outlook
Historical Perspective and Outlook for 2007
Sorghum Production, Ending Stocks, and Price, 1996-2007
0.00
100.00
200.00
300.00
400.00
500.00
600.00
700.00
800.00
900.00
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Mill
ion
Bu
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
Production Ending Stocks Price/Bu
U.S. Sorghum Ending Stocks and Price, 1996-2007
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Mill
ion
Bu
$1.50
$2.00
$2.50
$3.00
$3.50
Ending Stocks Price/Bu
Supply/Demand Projections:2007/2008Sorghum ----------Supply/Demand ----------
Low/High Exp/Exp High/Low
Beginning Stocks(MB) 38.0 38.0 38.0
Acres (M. P. A.) 7.3 7.8 8.3
Supply(M. Bu) 407 468 527
Use:
Food & Seed 65
Exports 160
Feed 180
Ending Stocks 31 63 94
Projected Price $3.25 $2.85 $2.45
Cotton Situation and Outlook
Historical Perspective and Outlook for 2007
Cotton Production, Ending Stocks, and Price, 1993-2007
0
5000
10000
15000
20000
25000
30000
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Th
ou
san
d B
ales
0
10
20
30
40
50
60
70
80
90
Production Ending Stocks Price(cents/lb)
U.S. Cotton Ending Stocks and Price, 1993-2007
0
2000
4000
6000
8000
10000
12000
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Th
ou
san
d B
ales
30
35
40
45
50
55
60
65
70
75
80
Ending Stocks Price(cents/lb)
U.S. & Foreign Cotton Ending Stocks, 1997-2007
0
10000
20000
30000
40000
50000
60000
70000
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007Year
Th
ou
san
d B
ales
Foreign Ending Stocks U.S. Ending Stocks
Supply/Demand Projections:2007/2008 Cotton ----------Supply/Demand ----------
Low/High Exp/Exp High/Low
Beginning Stocks(MB) 9.8 9.8 9.8Acres (M. P. A.) 10.6 11.1 11.6Acres (MA Harvested) 10.0 10.5 11.0Yield 762 800 835Supply(MB) 25.7 27.3 28.9 Use:
Domestic 4.4 Exports 17.0
Ending Stocks 4.0 5.9 7.8Projected Price/cwt
What Could Change The Outlook?
South America Plant Mix Non-Farm Economic Conditions in U.S.,
World – Oil Supplies, War Exchange Rates China Weather