The USDA World Agriculture Supply and Demand Estimate Report for July 9 projects a reduction in the corn crop, a proportional escalation in price from the May estimate and an average farm price at $3.45 to $4.05/bushel.
|
Corn |
|
|
Area Planted |
87.9 million acres |
|
Area to be Harvested |
81.0 million acres |
|
Projected Yield |
163.5 bushels/acre |
|
Corn Supply & Usage |
Millions of Bushels |
Percentage of Supply |
|
Beginning stocks |
1,478 |
11.1% |
|
Production |
13,245 |
88.8% |
|
Imports |
10 |
0.1% |
|
Total Projected Supply |
15,118 |
100.0% |
|
Feed & Residual Use |
5,350 |
36.3% |
|
Food, Seed & Industrial |
1,360 |
9.2% |
|
Ethanol Production |
4,700 |
31.9% |
|
Domestic Use |
11,300 |
77.4% |
|
Exports |
1,950 |
13.2% |
|
Total Use |
13,360 |
90.7% |
|
Ending stocks |
1,373 |
9.3% |
The USDA WASDE projection for the 2010-2011 soybean crop is shown in the table below. Acreage to be harvested and yield are based on July projections taking into account weather and acreage planted, and the estimated average farm price falls at $9.10 to $9.60/bushel.
|
Soybeans |
|
|
Area Planted |
78.9 million acres |
|
Area to be Harvested |
78.0 million acres |
|
Projected Yield |
42.9 bushels/acre |
|
Soybeans Supply & Usage |
Millions of Bushels |
Percentage of Supply |
|
Beginning Stocks |
175 |
5.0% |
|
Production |
3,345 |
94.9% |
|
Imports |
10 |
0.1% |
|
Total Projected Supply |
3,530 |
100.0% |
|
Crushing |
1,645 |
46.6% |
|
Exports |
1,370 |
38.8% |
|
Seed & Residual |
155 |
4.4% |
|
Total Use |
3,170 |
89.8% |
|
Ending Stocks |
360 |
10.2% |
|
Soybean Meal Supply & Usage |
Million Shoot Tons |
Percentage of Supply |
|
Beginning Stocks |
0.30 |
0.1% |
|
Production |
39.13 |
98.8% |
|
Imports |
0.17 |
0.1% |
|
Total Projected Supply |
39.39 |
100.0% |
|
Domestic Use |
30.40 |
76.8% |
|
Exports |
8.90 |
22.4% |
|
Total Use |
39.16 |
99.2% |
|
Ending Stocks |
0.23 |
0.8% |
