Commodity Outlook: September 2017 West Central Illinois: July 2017

Size: px
Start display at page:

Download "Commodity Outlook: September 2017 West Central Illinois: July 2017"

Transcription

1 Commodity Outlook: September 2017 West Central Illinois: July 2017 William George Senior Agriculture Economist U.S. Department of Agriculture Foreign Agriculture Service Office of Global Analysis

2 Commodity Outlooks are all about Looking Forward.. The Trick is Determining where the Market is Going

3 Corn and Wheat (HRW) $/BU Soybean ($/BU) Record U.S. Soy Plantings and Brazil Harvest Send Soybean Price Lower 5,25 Commodity Price Trends U.S. Cash (KC & Cent Ill) 10,20 4,75 Initial USDA Area Forecast 10,00 9,80 4,25 3,75 Early Dryness So. Plains Brazil Soybean Harvest March USDA Intentions 9,60 9,40 9,20 9,00 3,25 Jan Feb Mar Apr May Jun HRW Corn Soybean 8,80

4 Corn and Wheat (HRW) $/BU Soybean ($/BU) Wheat and Soybean Prices Rise in July 5,25 5,05 4,85 4,65 4,45 4,25 4,05 3,85 3,65 3,45 3,25 Commodity Price Trends U.S. Cash (KC & Cent Ill) Jan Feb Mar Apr May Jun July HRW Corn Soybean No. Plains Drought Yield Concerns & USDA Planting Report 10,20 10,00 9,80 9,60 9,40 9,20 9,00 8,80

5 Corn and Wheat (HRW) $/BU Soybean ($/BU) Prices Declined Following USDA s August Forecast Commodity Price Trends U.S. Cash (KC & Cent Ill) 5,25 5,05 4,85 4,65 4,45 4,25 4,05 3,85 3,65 3,45 3,25 Jan Feb Mar Apr May Jun July Aug HRW Corn Soybean USDA August Yield Forecast 10,20 10,00 9,80 9,60 9,40 9,20 9,00 8,80

6 Price Impact of September USDA Forecasts Less than August August August September September

7 U.S. Crop Trends Wheat, Corn, Soybeans

8 Million Hectares Growth in Area Harvested for Wheat, Corn and Soybeans in the U.S Slows 3-Crop Total Area % of Global Wheat Corn Soybeans 20% 84 19% % % %

9 U.S. Soybean Harvested Area Continues to Expand Million Acres

10 Million Tons MT/HA U.S. Soybean Production to Reach New Record on Larger Area and Above Trend Yield ,6 3,4 3,2 3 2,8 2,6 2,4 2,2 2 Production Yield

11

12 Grams/Pod Soybean Objective Yield Region Pods Per 18 Square Feet vs. Implied Pod Weight Sept ,400 1,450 1,500 1,550 1,600 1,650 1,700 1,750 1,800 1,850 1,900 Pods Per 18 Square Feet Implied Pod Weight = (Published Yield / Pods) / USDA-NASS

13 U.S. Corn Harvested Area Declines on Slowing Trend Million Acres

14 Production Yield U.S. Corn Production to Decline with Reduced Yield Million Metric Tons Drought MT/HA

15

16 Lbs/Ear Corn Objective Yield Region Ears Per Acre vs. Implied Ear Weight Aug Sept ,000 25,500 26,000 26,500 27,000 27,500 28,000 28,500 29,000 29,500 Ears Per Acre Implied Ear Weight = (Published Yield * 56) / Ears USDA-NASS

17 U.S. Wheat Harvested Area Trending Lower Million Hectares

18 Wheat Production and Yield Decline in 2017 Million Metric Tons MT/HA 4,0 3,6 3, ,8 2,4 2,0 Production Yield

19 Wheat Yields and Production Fall in 2017

20 Where does this take us into 2017/18? Lets look at each commodity separately

21 Million Tons Record Soybean Stocks to Continue into Soybean Exporter Ending Stocks Local Year Volume and Percent of Use 2000/ / / / /17 14% 12% 10% 8% 6% 4% 2% 0%

22 Percent Disappearance Million Tons Current Exporter Stocks Remain High Stocks to Use Comparable to % 30% 25% 20% 15% 10% 5% Soybean Exporter Ending Stocks Sept: Volume and Percent of Disappearance % 2000/ / / / /17 0

23 Current and Forecast U.S Farm Prices Comparable to 2010 Soybean Exporter Ending Stocks/Use U.S. Cash Price ($/BU) 35% 30% 25% 20% 15% 10% 5% 0% $4,54 $4,38 $5,53 $7,34 $5,74 $5,66 $6,43 $14,40 $12,50 $13,00 $11,30 $10,10 $9,97 $9,59 $10,10 $8,95 $9,50 $9,30 $16,00 $14,00 $12,00 $10,00 $8,00 $6,00 $4,00 $2,00 $0,00

24 Million Tons China s Demand Drives Imports Trends in Global Soybean Imports / / / /2017 China EU Other

25 Million Tons Soybean Trade Eclipses Meal in Consumption Growth 6,0 5,0 4,0 3,0 2,0 1,0 0,0-1,0-2,0-3,0-4,0 Trends in Soybean Meal Imports Meal & Bean Equivalent (excluding China) 2002/ / / / / /2018

26 Million Tons Import Growth Accelerates 14,0 3-yr Avg Annual Soybean Import Growth 12,0 10,0 8,0 6,0 4,0 2,0 0,0 1998/ / / /2017

27 Million Tons Consumption Growth Mirrors Trade Adds to Total Demand 3-yr Avg Annual Soybean Import and Consumption Growth 20,0 18,0 16,0 14,0 12,0 10,0 8,0 6,0 4,0 2,0 0,0 1998/ / / /2017

28 Exports Set Records Every Year in Brazil and U.S. Trends in Global Soybean Trade Brazil United States / / / / /2018

29 Exports from Other Markets Fail to Match U.S. and Brazil Growth Trends in Global Soybean Trade Argentina Canada Paraguay Ukraine Uruguay ROW / / / / /2018

30 Grain Bins and Silo Bags are found on many Farms Producers have Many On-Farm Storage Options

31 U.S. Dollars/Metric Ton South American Producers Facing Sticker Shock 550 US Dollar Equivalent Export Price Jan 15 Jul 15 Jan 16 Jul 16 Jan 17 Jul 17 US Gulf, FOB Brazil Paranagua, FOB Argentina Up River, FOB

32 US Dollars/Metric Ton Export Market Competitive on Price Soybean Export Price Jan 15 Jul 15 Jan 16 Jul 16 Jan 17 Jul 17 US Gulf, FOB Brazil Paranagua, FOB Argentina Up River, FOB

33 MILLION TONS Global Corn Stocks Forecast to Decline 250 GLOBAL CORN STOCKS / / / /2018 Other U.S. China

34 MILLION TONS U.S. Corn Prices Face Further Declines 250 GLOBAL CORN STOCKS 200 $6,22 $6, $4,46 $3,70 $3,61 $3,35 $3, / / / / / / /2018 Other U.S. China Price

35 Global Corn Consumption Growth Continues to Trend Higher GLOBAL CORN CONSUMPTION (1,000 MT) US China Other Asia Eur/FSU ROW / / / / / / /2018

36 Global Corn Exports Forecast to Decline Trends in Global Corn Trade United States Brazil Argentina Ukraine ROW / / / / /2018

37 Global Wheat Stocks Forecast to Rise in the Coming Year WHEAT STOCKS (THOUSAND TONS) Other Other Major Exporters US

38 Million Tons U.S. Prices to Rise as Lower U.S. Production Reduces Domestic Stocks Wheat Stocks $7,24 $7,77 $6,87 $9, $5,70 $5,99 $4,89 $3,89 $4,60 $6, $3, / / / / / / / /2018 Other Other Major Exporters US Price $0,00

39 Global Wheat Consumption Continues to Grow at a Slow Pace WHEAT CONSUMPTION ROW ME/N Afr India Asia (excl India) EU / / / / / / /2018

40 Global Exports Forecast to Remain Near Current Levels GLOBAL WHEAT EXPORTS Russia/Ukr European Union United States Canada Australia Argentina Other / / / / / / / /

41 Outlook Summary: What You See is What You Get Current Corn and Soybean Prices Expected into 2018 Wheat Prices Forecast to Rebound from Current Lows with lower production in the U.S. and Australia and increased competition from Russia and Eastern Europe in Export Markets. Strong Demand Growth Boosts Soybeans Potential to Move Markets Corn Markets will Likely Follow Soybeans

Grain Market Outlook for

Grain Market Outlook for Grain Market Outlook for 2017-2018 KSU Ag Econ 520 Fall 2017 Manhattan, Kansas DANIEL O BRIEN EXTENSION AGRICULTURAL ECONOMIST Topics to be discussed.. 1) Grain Market Analysis & Outlook Corn & Grain Sorghum

More information

Signs align for corn profit hopes Short crop in Brazil could be fix the market needs By Bryce Knorr, senior grain market analyst

Signs align for corn profit hopes Short crop in Brazil could be fix the market needs By Bryce Knorr, senior grain market analyst Signs align for corn profit hopes Short crop in Brazil could be fix the market needs By Bryce Knorr, senior grain market analyst Corn growers enjoyed an outbreak of optimism last week at Commodity Classic

More information

April 9, Dear Subscriber:

April 9, Dear Subscriber: April 9, 2014 Dear Subscriber: We will be adding material to this shell letter after the report is released on April 9, 2014 at 11:00 a.m CST. Be sure to click back on the link often for the latest information.

More information

World Agricultural Outlook Board Interagency Commodity Estimates Committee Forecasts. Lockup Briefing July 11, 2014

World Agricultural Outlook Board Interagency Commodity Estimates Committee Forecasts. Lockup Briefing July 11, 2014 World Agricultural Outlook Board Interagency Commodity Estimates Committee Forecasts Lockup Briefing World Wheat Production Country or Region estimate 2014/15 forecast June 11 Million Tons Percent Percent

More information

World Wheat Supply and Demand. Crop Quality Seminars 2013 Ian Flagg

World Wheat Supply and Demand. Crop Quality Seminars 2013 Ian Flagg World Wheat Supply and Demand Crop Quality Seminars 2013 Ian Flagg Beginning Stocks 250 200 Exporter beginning stocks down 35% from 5-year average 199 199 174 150 125 100 83 122 50 0 27 14 14 32 48 38

More information

OUTLOOK FOR US AGRICULTURE

OUTLOOK FOR US AGRICULTURE Agricultural Outlook Forum 216 OUTLOOK FOR US AGRICULTURE Robert Johansson Chief Economist 25 February 216 Fig 2 Main themes for 216 1. The macroeconomy is weighing on trade, but there are reasons for

More information

Santa Claus rally could help corn Be ready to sell brief rallies when they come By Bryce Knorr, senior grain market analyst

Santa Claus rally could help corn Be ready to sell brief rallies when they come By Bryce Knorr, senior grain market analyst Santa Claus rally could help corn Be ready to sell brief rallies when they come By Bryce Knorr, senior grain market analyst Rallies are always possible in corn, even in down markets. Trouble is, they don

More information

World Agricultural Outlook Board Interagency Commodity Estimates Committee Forecasts. Lockup Briefing June 11, 2014

World Agricultural Outlook Board Interagency Commodity Estimates Committee Forecasts. Lockup Briefing June 11, 2014 World Agricultural Outlook Board Interagency Commodity Estimates Committee Forecasts Lockup Briefing World Wheat Production Country or Region 2014/15 Million Tons World 714.0 701.6 0.7-1.7 United States

More information

Wheat Year in Review (International): Low 2007/08 Stocks and Higher Prices Drive Outlook

Wheat Year in Review (International): Low 2007/08 Stocks and Higher Prices Drive Outlook United States Department of Agriculture WHS-2008-01 May 2008 A Report from the Economic Research Service Wheat Year in Review (International): Low 2007/08 Stocks and Higher Prices Drive Outlook www.ers.usda.gov

More information

U.S. Agriculture: Commodity Situation and Outlook

U.S. Agriculture: Commodity Situation and Outlook U.S. Agriculture: Commodity Situation and Outlook H. Scott Stiles Instructor - Economics University of Arkansas Division of Agriculture Farm Policy Education 2013 U.S. Crop Outlook Overview: Preliminary

More information

Feed Grain Outlook June 2, 2014 Volume 23, Number 33

Feed Grain Outlook June 2, 2014 Volume 23, Number 33 June 2, Today s Newsletter Market Situation Crop Progress 1 Corn Use 2 Outside Markets 3 Marketing Strategies Corn Marketing Plan 5 Upcoming Reports/Events 6 Market Situation Crop Progress. This afternoon

More information

World Sorghum Grain Producers

World Sorghum Grain Producers World Sorghum Grain Producers Million Metric Tons 18 16 14 12 12 10 8 6 7 7 6 6 4 4 4 3 2 2 2 2 0 14 MY 2014/15 MY 2015/16 MY 2016/17 Grain Sorghum Exporters Million Metric Tons 10 9 8 7 6 5 4 3 2 1 0

More information

Global Agricultural Supply and Demand: Factors contributing to recent increases in food commodity prices

Global Agricultural Supply and Demand: Factors contributing to recent increases in food commodity prices Global Agricultural Supply and Demand: Factors contributing to recent increases in food commodity prices Ron Trostle Economic Research Service U.S. Department of Agriculture Agricultural Markets and Food

More information

PRX Grain Market Overview

PRX Grain Market Overview PRX The ProExporter Network Grain, Oilseed & Biofuel Fundamentals Updated 4/1/18 PRX Grain Market Overview US Major Grains Crop Years 217/18 & 218/19 with USDA Apr 1, 218 WASDE PRX_Overview, SDU, Apr-1-18

More information

Corn & Soybeans. Corn (source WASDE) Soybean (source WASDE)

Corn & Soybeans. Corn (source WASDE) Soybean (source WASDE) Corn & Soybeans Corn (source WASDE) Estimate for the 2015-16 Season Global and US outlook Soybean (source WASDE) Estimate for the 2015-16 Season Global and US outlook Global ending stocks Corn and Soybeans

More information

United Nations Conference on Trade and Development

United Nations Conference on Trade and Development United Nations Conference on Trade and Development 1th MULTI-YEAR EXPERT MEETING ON COMMODITIES AND DEVELOPMENT 25-26 April 218, Geneva Assessing the recent past and prospects for grains and oilseeds markets

More information

Crops Marketing and Management Update

Crops Marketing and Management Update Crops Marketing and Management Update Department of Agricultural Economics Princeton REC Dr. Todd D. Davis Assistant Extension Professor -- Crop Economics Marketing & Management Vol. 2016 (3) March 9,

More information

Cattle Market Situation and Outlook

Cattle Market Situation and Outlook Cattle Market Situation and Outlook Rebuilding the Cow Herd Series March 28, 2007 Falls City, TX Coordinated by: Dennis Hale-Karnes CEA Ag & Charlie Pfluger-Wilson CEA Ag Prepared and presented by: Larry

More information

SOYBEANS: LARGE SUPPLIES CONFIRMED, BUT WHAT ABOUT 2005 PRODUCTION?

SOYBEANS: LARGE SUPPLIES CONFIRMED, BUT WHAT ABOUT 2005 PRODUCTION? SOYBEANS: LARGE SUPPLIES CONFIRMED, BUT WHAT ABOUT 2005 PRODUCTION? JANUARY 2005 Darrel Good 2005 NO. 2 Summary USDA s January reports confirmed a record large 2004 U.S. crop, prospects for large year-ending

More information

CORN: DECLINING WORLD GRAIN STOCKS OFFERS POTENTIAL FOR HIGHER PRICES

CORN: DECLINING WORLD GRAIN STOCKS OFFERS POTENTIAL FOR HIGHER PRICES CORN: DECLINING WORLD GRAIN STOCKS OFFERS POTENTIAL FOR HIGHER PRICES OCTOBER 2000 Darrel Good Summary The 2000 U.S. corn crop is now estimated at 10.192 billion bushels, 755 million (8 percent) larger

More information

2017 Crop Market Outlook

2017 Crop Market Outlook 2017 Crop Market Outlook Presented at the Row Crop Short Course Jackson County Agriculture Conference Center March 2, 2017 Adam N. Rabinowitz, PhD Assistant Professor and Extension Specialist Agricultural

More information

SOUTH AMERICAN SOYBEAN CROP ESTIMATE INCREASED

SOUTH AMERICAN SOYBEAN CROP ESTIMATE INCREASED April 14, 2000 Ames, Iowa Econ. Info. 1787 SOUTH AMERICAN SOYBEAN CROP ESTIMATE INCREASED USDA s World Agricultural Outlook Board raised its estimate of combined Brazilian and Argentine soybean production

More information

KSU Agriculture Today Radio Notes

KSU Agriculture Today Radio Notes KSU Agriculture Today Radio Notes Daniel O Brien, Extension Agricultural Economist, Kansas State University For Radio Program to be aired 10:00-10:15 a.m., Friday, November 17, 2017 I. Grain Futures Closes,

More information

Fundamental Analysis for Grain

Fundamental Analysis for Grain Fundamental Analysis for Grain By Dr. Robert Wisner University Professor Emeritus Iowa State University Texas A & M University Master Marketers Conference, Amarillo, Texas, January 13, 2010 The process

More information

Hog:Corn Ratio What can we learn from the old school?

Hog:Corn Ratio What can we learn from the old school? October 16, 2006 Ames, Iowa Econ. Info. 1944 Hog:Corn Ratio What can we learn from the old school? Economists have studied the hog to corn ratio for over 100 years. This ratio is simply the live hog price

More information

Agriculture Commodity Markets & Trends

Agriculture Commodity Markets & Trends Agriculture Commodity Markets & Trends Agenda Short History of Agriculture Commodities US & World Supply and Demand Commodity Prices Continuous Charts What is Contango and Backwardation Barge, Truck and

More information

THE SOUTH AFRICAN GRAIN MARKETS QUARTERLY EARLY WARNING REPORT NO. 02 OF 2013

THE SOUTH AFRICAN GRAIN MARKETS QUARTERLY EARLY WARNING REPORT NO. 02 OF 2013 THE SOUTH AFRICAN GRAIN MARKETS QUARTERLY EARLY WARNING REPORT 1. SUMMARY NO. 02 OF 2013 The domestic closing stocks for maize in the current season are expected to decline by about 40.94% on the back

More information

Field Pea and Lentil Marketing Strategies

Field Pea and Lentil Marketing Strategies EC-1295 Field Pea and Lentil Marketing Strategies George Flaskerud Professor and Extension Crops Economist Department of Agribusiness and Applied Economics The United States is a small but growing producer

More information

Cattle & Beef Outlook

Cattle & Beef Outlook Cattle & Beef Outlook Glynn Tonsor Dept. of Agricultural Economics, Kansas State University Overarching Beef Industry Economic Outlook Supplies Expansion continues, but has moderated Demand Mixed signals

More information

Soybean Supply and Demand Forecast

Soybean Supply and Demand Forecast Soybean Supply and Demand Forecast U.S. soybean planted acreage is expected to increase 5.7 million acres over the forecast period. U.S. soybean yields are expected to increase 2.2 bushels per acre or

More information

Ammonia costs spike sharply higher Nitrogen prices disrupt calm in fertilizer market By Bryce Knorr, grain market analyst

Ammonia costs spike sharply higher Nitrogen prices disrupt calm in fertilizer market By Bryce Knorr, grain market analyst Ammonia costs spike sharply higher Nitrogen prices disrupt calm in fertilizer market By Bryce Knorr, grain market analyst Ammonia joined other forms of nitrogen in the parade of higher costs, with contracts

More information

Wheat Outlook. U.S. 2017/18 all-wheat area planted projected to be smallest on record. Figure 1: U.S. wheat planted area by class

Wheat Outlook. U.S. 2017/18 all-wheat area planted projected to be smallest on record. Figure 1: U.S. wheat planted area by class Economic Research Service Situation and Outlook WHS-17d April 13, 2017 Wheat Chart Gallery will be updated on April 13, 2017. The next release is May 12, 2017. -------------- Approved by the World Agricultural

More information

Dairy Outlook. January By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology

Dairy Outlook. January By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology Dairy Outlook January 2015 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology Dairy prices have fallen in the past month, especially butter prices. The dollar is still

More information

Dairy Outlook. April By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology

Dairy Outlook. April By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology Dairy Outlook April 2017 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology The Class III price in March was $1.07 lower than in February, while the Class IV price

More information

Ending stocks can adjust due to a variety of factors from changes in production as well as adjustments to beginning stocks and demand.

Ending stocks can adjust due to a variety of factors from changes in production as well as adjustments to beginning stocks and demand. 1 2 3 Wire services such as Reuters and Bloomberg offer a survey of analysts expectations for high-profile USDA reports. These surveys hold interest because they help clarify what constitutes a shock or

More information

Soy Canada SOYBEAN PROCESSING WORKSHOP PRESENTATION NOVEMBER 16, 2017 BRANDON, MANITOBA

Soy Canada SOYBEAN PROCESSING WORKSHOP PRESENTATION NOVEMBER 16, 2017 BRANDON, MANITOBA Soy Canada SOYBEAN PROCESSING WORKSHOP PRESENTATION NOVEMBER 16, 2017 BRANDON, MANITOBA Overview 1) Soy Canada & Mandate 2) Soybean Sector Update & Trends 3) Growth in Western Canada 4) Commodity Soybean

More information

THE SOUTH AFRICAN GRAIN MARKETS QUARTERLY EARLY WARNING REPORT NO. 01 OF 2013

THE SOUTH AFRICAN GRAIN MARKETS QUARTERLY EARLY WARNING REPORT NO. 01 OF 2013 THE SOUTH AFRICAN GRAIN MARKETS QUARTERLY EARLY WARNING REPORT 1. SUMMARY NO. 01 OF 2013 The domestic closing stocks for maize in the current season are expected to contract by about 21.39% on the back

More information

SOYBEANS: FOCUS ON SOUTH AMERICAN AND U.S. SUPPLY AND CHINESE DEMAND

SOYBEANS: FOCUS ON SOUTH AMERICAN AND U.S. SUPPLY AND CHINESE DEMAND SOYBEANS: FOCUS ON SOUTH AMERICAN AND U.S. SUPPLY AND CHINESE DEMAND APRIL 2002 Darrel Good 2002-NO.4 Summary Soybean prices during the first half of the 2001-02 marketing year were well below the prices

More information

Recalibration of the Phosphate Market

Recalibration of the Phosphate Market Phosphate Primer and Market Outlook Recalibration of the Phosphate Market Dr. Michael R. Rahm Vice President Market Analysis and Strategic Planning 19 th Annual Citi Chemicals Conference New York, NY December

More information

February 10, Tickets are 30 dollars and include a continential breakfast, Beef House lunch, and 25th anniversery hat.

February 10, Tickets are 30 dollars and include a continential breakfast, Beef House lunch, and 25th anniversery hat. February 10, 2014 WE WILL BE UPDATING AND ADDING MATERIAL THROUGHOUT THE DAY ON FEBRUARY 10 TO THIS LETTER BEGINNING AT 11:00 AM CST. PLEASE CHECK BACK OFTEN FOR THE LATEST INFORMATION! Tickets for the

More information

Crops Marketing and Management Update

Crops Marketing and Management Update Crops Marketing and Management Update Department of Agricultural Economics Princeton REC Dr. Todd D. Davis Assistant Extension Professor -- Crop Economics Marketing & Management Vol. 2016 (4) April 22,

More information

Situation and Outlook of the Canadian Livestock Industry

Situation and Outlook of the Canadian Livestock Industry Situation and Outlook of the Canadian Livestock Industry 2011 USDA Agricultural Outlook Forum Tyler Fulton February 25, 2011 tyler@hamsmarketing.ca Lost in Translation Canadian Livestock Industry - Outline

More information

U.S. food, seed, and industrial use of corn. Other 3,000 2,000 1,000

U.S. food, seed, and industrial use of corn. Other 3,000 2,000 1,000 FDS-10f June 14, 2010 Feed Outlook Allen Baker albaker@ers.usda.gov Edward Allen ewallen@ers.usda.gov Heather Lutman hlutman@ers.usda.gov Record Corn Ethanol Use for Ethanol Expected Higher Contents Domestic

More information

Fresh Deciduous Fruit (Apples, Grapes, & Pears): World Markets and Trade

Fresh Deciduous Fruit (Apples, Grapes, & Pears): World Markets and Trade United States Department of Agriculture Foreign Agricultural Service June 2015 Fresh Deciduous Fruit (Apples, Grapes, & Pears): World Markets and Trade FRESH APPLES World apple production in is estimated

More information

Contact: Dante Manocchio Richardson International

Contact: Dante Manocchio Richardson International The following information was presented at the 2015 Cereals & Oilseeds Workshop on Feb 25, 2015 and should not be copied or reproduced without permission from the author. Contact: Dante Manocchio Richardson

More information

Iowa Farm Outlook. May 2015 Ames, Iowa Econ. Info Several Factors Supporting, Pressuring Fed Cattle Prices

Iowa Farm Outlook. May 2015 Ames, Iowa Econ. Info Several Factors Supporting, Pressuring Fed Cattle Prices Iowa Farm Outlook 0BDepartment of Economics May 2015 Ames, Iowa Econ. Info. 2061 Several Factors Supporting, Pressuring Fed Cattle Prices All market classes of beef cattle are at record high levels for

More information

Beef Cattle Outlook Dr. Curt Lacy Extension Economist-Livestock

Beef Cattle Outlook Dr. Curt Lacy Extension Economist-Livestock Beef Cattle Outlook Dr. Curt Lacy Extension Economist-Livestock Current Situation $ Per Cwt. 190 180 170 160 150 140 130 120 110 100 90 MED. & LRG. #1 & 2 STEER CALF PRICES 500-600 Pounds, Georgia, Weekly

More information

2017 Tennessee Agricultural Outlook. Aaron Smith Crop Economist University of Tennessee Extension

2017 Tennessee Agricultural Outlook. Aaron Smith Crop Economist University of Tennessee Extension 2017 Tennessee Agricultural Outlook Aaron Smith Crop Economist University of Tennessee Extension Overview Review of the Tennessee Agricultural Economy Crops Livestock 2017 Estimated Net Returns Principle

More information

Agri-Service Industry Report

Agri-Service Industry Report Agri-Service Industry Report December 2016 Dan Hassler 2017 U.S. Industry Outlook A little better or a little worse is the quickest way to sum up the expectations for the agricultural equipment industry

More information

World Agricultural Supply And Demand Estimates

World Agricultural Supply And Demand Estimates United States Department of Agriculture Office of the Chief Economist World Agricultural Supply And Demand Estimates Agricultural Marketing Service Economic Research Service Farm Service Agency Foreign

More information

October 20, 1998 Ames, Iowa Econ. Info U.S., WORLD CROP ESTIMATES TIGHTEN SOYBEAN SUPPLY- DEMAND:

October 20, 1998 Ames, Iowa Econ. Info U.S., WORLD CROP ESTIMATES TIGHTEN SOYBEAN SUPPLY- DEMAND: October 20, 1998 Ames, Iowa Econ. Info. 1752 U.S., WORLD CROP ESTIMATES TIGHTEN SOYBEAN SUPPLY- DEMAND: USDA's domestic and world crop estimates show a less burdensome world supply-demand balance for soybeans

More information

Demand Pull Pressure (Again)

Demand Pull Pressure (Again) Near Term Potash Outlook Demand Pull Pressure (Again) Fertilizer Outlook and Technology Conference Savannah, GA November 17, 2010 Dr. Michael R. Rahm Vice President, Market and Strategic Analysis The Mosaic

More information

Argentina. Poultry and Products Annual. Argentina Poultry & Products Annual

Argentina. Poultry and Products Annual. Argentina Poultry & Products Annual THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: GAIN Report

More information

World Corn Market Supply Demand Trends

World Corn Market Supply Demand Trends World Corn Market Supply Demand Trends Daniel O Brien Extension Agricultural Economist K State Research and Extension May 27, 21 The world corn market has many participants, but a small number of larger

More information

Chicago Mercantile Exchange information sources.

Chicago Mercantile Exchange information sources. Chicago Mercantile Exchange information sources http://www.cmegroup.com/toolsinformation/index.html Key Areas in Grain Marketing Global Market Developments Seasonality of prices & basis Basis signals &

More information

Update on Cotton: Prices, Responsible Sourcing, and Resources for Your Business

Update on Cotton: Prices, Responsible Sourcing, and Resources for Your Business Update on Cotton: Prices, Responsible Sourcing, and Resources for Your Business Hosted by United States Fashion Industry Association (USFIA) & Cotton Incorporated August 30, 2016 2:00 P.M. Eastern/11:00

More information

Emerging Global Trade Patterns: USDA s Long-term Agricultural Projections

Emerging Global Trade Patterns: USDA s Long-term Agricultural Projections Emerging Global Trade Patterns: USDA s Long-term Agricultural Projections Midwest Agriculture s Ties to the Global Economy Federal Reserve Bank of Chicago November 28, 217 Chicago Jim Hansen, Ph.D. USDA,

More information

Dairy Outlook. June By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology

Dairy Outlook. June By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology Dairy Outlook June 2015 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology Cheese prices have been rising this past month, rising 16 cents/lb. in a fairly steady climb.

More information

Beef Outlook Webinar July 27, 2009

Beef Outlook Webinar July 27, 2009 2009-10 Beef Outlook Webinar July 27, 2009 David Maloni Principal American Restaurant Association Inc. 888-423-4411 www.americanrestaurantassociation.com David.Maloni@AmericanRestaurantAssociation.com

More information

Rice Outlook and Baseline Projections. University of Arkansas Webinar Series February 13, 2015 Nathan Childs, Economic Research Service, USDA

Rice Outlook and Baseline Projections. University of Arkansas Webinar Series February 13, 2015 Nathan Childs, Economic Research Service, USDA Rice Outlook and Baseline Projections University of Arkansas Webinar Series February 13, 2015 Nathan Childs, Economic Research Service, USDA THE GLOBAL RICE MARKET PART 1 The 2014/15 Global Rice Market:

More information

Global and U.S. Rice Markets Face Tighter Supplies in 2015/16

Global and U.S. Rice Markets Face Tighter Supplies in 2015/16 Global and U.S. Rice Markets Face Tighter Supplies in 2015/16 University of Arkansas Webinar Series November 19, 2015 Nathan Childs, Economic Research Service, USDA 11.20.15 PART 1 THE 2015/16 GLOBAL RICE

More information

Rice Outlook. Nathan Childs. U.S. Season-Average Rough-Rice Price Raised to $15.15-$16.15 per Cwt

Rice Outlook. Nathan Childs. U.S. Season-Average Rough-Rice Price Raised to $15.15-$16.15 per Cwt RCS-8k Dec. 12, 28 Rice Outlook Nathan Childs U.S. Season-Average Rough-Rice Price Raised to $15.15-$16.15 per Cwt Contents Domestic Outlook Intl. Outlook Contacts & Links Tables U.S. Supply & Use S&U

More information

Cattle Market Outlook

Cattle Market Outlook Cattle Market Outlook Winter C. Wilson Gray District Economist Twin Falls R & E Center wgray@uidaho.edu http://web.cals.uidaho.edu/idahoagbiz/ Thank You! Topics: Markets and Aspects of Domestic Consumer

More information

Why Another Food. Commodity Price Spike?

Why Another Food. Commodity Price Spike? 18 Why Another Food Commodity Price Spike? Ronald Trostle, rtrostle@ers.usda.gov Shutterstock Large and rapid increases have occurred for many food commodity prices during 21-11. Long-term production and

More information

IFA Medium-Term Fertilizer Outlook

IFA Medium-Term Fertilizer Outlook IFA Medium-Term Fertilizer Outlook 2015 2019 Olivier Rousseau IFA Secretariat Afcome 2015 Reims, France October 21 st - 23 rd 2015 Outlook for World Agriculture and Fertilizer Demand Economic and policy

More information

Market Fundamentals. August October 2017

Market Fundamentals. August October 2017 Market Fundamentals August October 2017 1 Safe Harbor Statement & Disclosures This presentation includes forward-looking comments subject to important risks and uncertainties. It may also contain financial

More information

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S.

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: GAIN Report

More information

Fresh Peaches and Cherries: World Markets and Trade

Fresh Peaches and Cherries: World Markets and Trade United States Department of Agriculture Foreign Agricultural Service Fresh Peaches and Cherries: World Markets and Trade Fresh Peach/Nectarine: 2014/15 Highlights Global production in 2014/15 of peaches/nectarines

More information

2017 China Apple Crop Outlook. SDIC Zhonglu Fruit Juice Company Zhonglu America Corporation Michael Choi

2017 China Apple Crop Outlook. SDIC Zhonglu Fruit Juice Company Zhonglu America Corporation Michael Choi 2017 China Apple Crop Outlook SDIC Zhonglu Fruit Juice Company Zhonglu America Corporation Michael Choi 1 2016 Crop Review 2 2016 Crop Utilization 3 2017 Crop Forecast 4 Apple Export, Import, Apple Price

More information

When Certification Programs to Ensure Compliance with Foreign Standards Enhance Trade: The Case of Brazilian Beef Exports

When Certification Programs to Ensure Compliance with Foreign Standards Enhance Trade: The Case of Brazilian Beef Exports International Agricultural Trade Research Consortium Annual Meeting December 13-15, 2009 Ft Myers, Florida When Certification Programs to Ensure Compliance with Foreign Standards Enhance Trade: The Case

More information

Decision enabling cash market analysis & price outlook. Report Summary Last closing USD (+16.00) per MT as on October 11, 2013

Decision enabling cash market analysis & price outlook. Report Summary Last closing USD (+16.00) per MT as on October 11, 2013 Decision enabling cash market analysis & price outlook For the week beginning Oct 15, 213 Argentina Soy Oil 1 Month Forward Fundamental Summary Report Summary Last closing USD 93. (+16.) per MT as on October

More information

Who Will Own the Grain? Elevators Eye Improved Prospects

Who Will Own the Grain? Elevators Eye Improved Prospects November Who Will Own the Grain? Elevators Eye Improved Prospects Key Points: n Opportunities from significant futures market carry, weak harvest basis, and low transportation rates point to improved margins

More information

The World Cotton Situation * Terry Townsend, Executive Director Armelle Gruere, Statistician. Projections to 2020

The World Cotton Situation * Terry Townsend, Executive Director Armelle Gruere, Statistician. Projections to 2020 INTERNATIONAL COTTON ADVISORY COMMITTEE 1629 K Street NW, Suite 72, Washington, DC 26 USA Telephone (22) 463-666 Fax (22) 463-695 e-mail secretariat@icac.org The World Cotton Situation * Terry Townsend,

More information

Update on the Asian Wood Markets

Update on the Asian Wood Markets Update on the Asian Wood Markets RISI North American Conference Boston, USA October 16 18, 2017 Bob Flynn Director, International Timber, RISI Copyright 2017 RISI, Inc. Proprietary Information Agenda Market

More information

3/25/2017. What to do today? Cattle & Beef Markets: Commodity Outlook

3/25/2017. What to do today? Cattle & Beef Markets: Commodity Outlook 3/25/27 Cattle & Beef Markets: Commodity Outlook Stephen R. Koontz Professor & extension economist Department of Agricultural & Resource Economics Colorado State University Stephen.Koontz@ColoState.Edu

More information

Bunge - Wheat Market update. IAOM Manila 2012

Bunge - Wheat Market update. IAOM Manila 2012 Bunge - Wheat Market update IAOM Manila 2012 Bunge Today Key Facts Net Sales: $59 Billion Employees: ~35,000 Facilities: ~400 Countries of Operations: 30+ 6% 9% 12% 19% Average Net Operating Assets Agribusiness

More information

Cattle Outlook. January, 2018

Cattle Outlook. January, 2018 Cattle Outlook January, 2018 Cattle Outlook January 2018 In This Issue: Supply Fundamentals Demand Fundamentals Summary 2 Historical Price Reference Where are Cattle Prices Currently, And Where are they

More information

Jabs International Pvt. Ltd.

Jabs International Pvt. Ltd. 1 Cumin 1 Global Cumin Production Cumin's Global Cumin Seed production is around 200-215 thousand tons. India is the leading in terms of cumin seed production and consumption. India, Syria and Turkey contributing

More information

The report covers supply and demand trends for sugar in South Africa

The report covers supply and demand trends for sugar in South Africa THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: GAIN Report

More information

Where will cotton be in 10 years time? A vision for the future. Plexus Cotton Limited March 2011

Where will cotton be in 10 years time? A vision for the future. Plexus Cotton Limited March 2011 Where will cotton be in 10 years time? A vision for the future. Plexus Cotton Limited March 2011 Trying to predict the future is like trying to drive down a country road, at night, with no lights, while

More information

Global Market Pulp Statistics

Global Market Pulp Statistics Global Market Pulp Statistics Bleached Kraft Pulp November Data 217 Global Statistics for Bleached Kraft Market Pulp The statistics in this file is based on EPIS (European Pulp Industry Sector) data, distributed

More information

Ukraine Winter Wheat: Sowing Progress (All years include estimated area for Crimea.)

Ukraine Winter Wheat: Sowing Progress (All years include estimated area for Crimea.) Sept 7 Sept 14 Sept 21 Sept 28 Oct 5 Oct 12 Oct 19 Oct 26 Nov 2 Nov 9 Nov 16 Million hectares 1,000 hectares 8,000 7,000 6,000 Ukraine Winter Wheat: Sowing Progress (All years include estimated area for

More information

Improved Price Signals to Encourage an Area Increase Next Year

Improved Price Signals to Encourage an Area Increase Next Year THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: 4/6/2017

More information

Jason Henderson Vice President and Branch Executive Federal Reserve Bank of Kansas City Omaha Branch April 25, 2012

Jason Henderson Vice President and Branch Executive Federal Reserve Bank of Kansas City Omaha Branch  April 25, 2012 Jason Henderson Vice President and Branch Executive April 25, 2012 The views expressed are those of the author and do not necessarily reflect the opinions of the Federal Reserve Bank of Kansas City or

More information

IS THE RICE SUPPLY MORE IMPORTANT THAN RICE DEMAND TO THE PRICE?

IS THE RICE SUPPLY MORE IMPORTANT THAN RICE DEMAND TO THE PRICE? IS THE RICE SUPPLY MORE IMPORTANT THAN RICE DEMAND TO THE PRICE? WATER IS THE KEY TO RICE SUPPLY IF THE COST OF WATER GOES UP, SO WILL THE RICE PRICE. BY MILO HAMILTON WWW.FIRSTGRAIN.COM INDIA/CHINA ARE

More information

THE HIGHTOWER REPORT

THE HIGHTOWER REPORT Futures Analysis & Forecasting HightowerReport.com Strategies for the March 31st USDA Prospective Plantings Report Large Grain Supply May Not Be Enough! Several years ago, the amount of food consumed inside

More information

Potential Forecasted Economic Impact of Commercializing Agrisure Duracade 5307 in U.S. Corn Prior to Chinese Import Approval

Potential Forecasted Economic Impact of Commercializing Agrisure Duracade 5307 in U.S. Corn Prior to Chinese Import Approval Potential Forecasted Economic Impact of Commercializing Agrisure Duracade 5307 in U.S. Corn Prior to Chinese Import Approval Author: Max Fisher, Director of Economics and Government Relations National

More information

AMIS Global Market Outlook 2017/18 Wheat & Maize 2017 China Agricultural Conference Beijing April 2017

AMIS Global Market Outlook 2017/18 Wheat & Maize 2017 China Agricultural Conference Beijing April 2017 17 17 AO 17AO 17AO AMIS Global Market Outlook 17/18 Wheat & Maize AO 17AO 17AO 17 hina Agricultural onference Beijing -21 April 17 AO 17AO 17AO AO 17AO 17AO Abdolreza Abbassian Senior Economist & AMIS

More information

Cattle Situation and Outlook

Cattle Situation and Outlook Cattle Situation and Outlook Midwest/Great Plains/Western Outlook Conference August 2010 Tim Petry Livestock Economist www.ag.ndsu.edu/livestockeconomics mwgpw.ppt 8/12/10 TO ALL OUTLOOK CONFERENCE ATTENDEES

More information

Ag Business Climate Outlook for 2017

Ag Business Climate Outlook for 2017 Ag Business Climate Outlook for 2017 Chris Hurt, Professor & Extension Economist Michael Langemeier, Professor & Associate Director James Mintert, Professor & Director Purdue Center for Commercial Agriculture

More information

Iowa Farm Outlook. December 2015 Ames, Iowa Econ. Info Replacement Quality Heifer Prices Supported by Latest Data

Iowa Farm Outlook. December 2015 Ames, Iowa Econ. Info Replacement Quality Heifer Prices Supported by Latest Data Iowa Farm Outlook 0BDepartment of Economics December 2015 Ames, Iowa Econ. Info. 2068 Replacement Quality Heifer Prices Supported by Latest Data Beef cow herd expansion started briskly in 2014 with a 2.1%

More information

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S.

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: 9/4/2014

More information

Iowa Farm Outlook. March 2014 Ames, Iowa Econ. Info Long-Term Projections for Beef Production and Trade

Iowa Farm Outlook. March 2014 Ames, Iowa Econ. Info Long-Term Projections for Beef Production and Trade Iowa Farm Outlook 0BDepartment of Economics March 2014 Ames, Iowa Econ. Info. 2047 Long-Term Projections for Beef Production and Trade We often spend a lot of time focusing on the short-term market situation

More information

% of Reference Price 190% Avg Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec. Male Calves Dairy Type Male Calves Beef Type

% of Reference Price 190% Avg Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec. Male Calves Dairy Type Male Calves Beef Type EU Canada Chile Chile EU Canada Trade Tonnes cw in Tonnes cwe In Tonnes cwe Russia (up to Aug) Japan Mexico (up to Aug) South Korea Russia (up to Aug) Japan Mexico (up to Aug) South Korea Qty in 1 Tonnes

More information

Learn more at MarginManager.com May As always, if you have questions, please feel free to contact me.

Learn more at MarginManager.com May As always, if you have questions, please feel free to contact me. Learn more at MarginManager.com May 17 This Issue Feature Article Pages -6 Optimize Your Capital... Margin Watch Reports Pages 73 Hog....7 Dairy...8 Beef....9 Corn.... 11 Soybean...1 Wheat...13 Dear Ag

More information

DYNAMIC HAY EXPORT GROWTH LED BY CHINA. Dan Putnam, William A. Matthews, and Daniel A. Sumner 1 ABSTRACT

DYNAMIC HAY EXPORT GROWTH LED BY CHINA. Dan Putnam, William A. Matthews, and Daniel A. Sumner 1 ABSTRACT DYNAMIC HAY EXPORT GROWTH LED BY CHINA Dan Putnam, William A. Matthews, and Daniel A. Sumner 1 ABSTRACT Western hay exports have increased rapdily in recent years, and are on pace to exceed 4.7 Metric

More information

Fertilizers in Brazil New opportunities

Fertilizers in Brazil New opportunities Third International Conference on Slow- and Controlled- Release and Stabilized Fertilizers Fertilizers in Brazil New opportunities Rio de Janeiro March, 213 Index 1. Brazilian Agriculture Fertilizer Market;

More information

Mid-level Evaluation of Climate Services: Seasonal Forecasts in Kazakhstan

Mid-level Evaluation of Climate Services: Seasonal Forecasts in Kazakhstan Mid-level Evaluation of Climate Services: Seasonal Forecasts in Kazakhstan Glen Anderson, Chief of Party Climate Change Resilient Development Project Montevideo, Uruguay December 11, 2014 What I will cover

More information

Agrium: Growing Across the Value Chain

Agrium: Growing Across the Value Chain Agrium: Growing Across the Value Chain February 2009 Forward-Looking Statements Certain statements in this presentation constitute forward-looking statements. Such forwardlooking statements involve known

More information

Pig Market Outlook. Stephen Howarth AHDB Outlook Conference 11 February 2015

Pig Market Outlook. Stephen Howarth AHDB Outlook Conference 11 February 2015 Pig Market Outlook Stephen Howarth AHDB Outlook Conference 11 February 2015 Market Review Producer Margins Global Outlook UK Outlook Wild Cards Overview UK & EU PRICES DOWN, DOWN, DOWN p/kg dw 175 170

More information