Friday, May 10, 2013

WASDE Oilseed: U.S. Soybean Production Projected Up 375M Tons From 2012 Drought

AgFax.Com - Your Online Ag News Source


U.S. oilseed production for 2013/14 is projected at 100.9 million tons, up 9 percent from 2012/13.

Higher soybean production accounts for most of the increase. Sunflower seed, peanut, and cottonseed production are each projected below last year’s crops. Soybean production is projected at a record 3.390 billion bushels, up 375 million from the drought-reduced 2012 crop on s lightly higher harvested area and higher yields. Soybean yields are projected at a weather-adjusted trend level of 44.5 bushels per acre, up 4.9 bushels from 2012. Soybean supplies are projected at 3.530 billion bushels, up 10 percent from 2012/13. Additional soybean meal exports for 2012/13 are offset by reduced domestic consumption, leaving crush unchanged. Soybean exports and ending stocks for 2012/13 are also unchanged from last month.

The 2013/14 U.S. soybean crush is projected at 1.695 billion bushels, up 60 million from 2012/13 reflecting increased domestic soybean meal consumption and exports. Despite in creased competition from South America, U.S. soybean meal exports are forecast higher on sharply lower prices. Soybean exports are projected at 1.450 billion bushels, up 100 million from 2012/13 on increased supplies and competitive prices. Ending stocks are projected at 265 million bushels, up 140 million from 2012/13. The U.S. season-average soybean price for 2013/14 is forecast at $9.50 to $11.50 per bushel compared with $14.30 per bushel in 2012/13. Soybean meal and oil prices are forecast at $280-$320 per short ton and 47-51 cents per pound, respectively.

Global oilseed production for 2013/14 is projected at a record 491.3 million tons, up 4.7 percent from 2012/13 mainly due to increased soybean production. Global soybean production is projected at 285.5 million tons, up 6 percent. The Argentina soybean crop is projected at 54.5 million tons, up 3.5 million from 2012/13 on record planted area and higher yields. The Brazil soybean crop is projected at a record 85 million tons as higher harvested area more than offsets lower yields. China soybean production is projected at 12 million tons, down 0.6 million from 2012/13 as producers continue to shift area to more profitable crops.

If realized, harvested area at 6.6 million hectares would be down 28 percent in the past 4 years. Global production of high-oil content seeds (rapeseed and sunflower seed) is projected up 6.1 percent from 2012/13 on increased rapeseed production in Canada, India, EU-27, and Ukraine, and increased sunflower seed production in Argentina, EU-27, Russia, Ukraine, and Turkey. Oilseed supplies are up 5.1 percent from 2012/13. With crush projected to increase 3.4 percent, global oilseed ending stocks are projected at 82.6 million tons, up 12.3 million.

Global protein meal consumption is projected to increase 2.7 percent in 2013/14. Protein meal consumption is projected to increase 3. 3 percent in China, accounting for 32 percent of global protein consumption gains. Global soybean exports are projected at 107.1 million tons , up 11.3 percent from 2012/13. China soybean WASDE-518-4 imports are projected at 69 million tons, up 10 million from the revised 2012/13 projection, leaving soybean supplies up 5 million tons from the previous year. Global vegetable oil consumption is projected to rise 3 percent in 2013/14, led by increases for China, India, and Indonesia.


Tags: , , , , ,


Leave a Reply

Name and Email Address are required fields. Your email will not be published or shared with third parties.

Sunbelt Ag News

    DTN Livestock Open: Mixed Trade Expected10-20

    DTN Grain Open: Futures Start Out Lower10-20

    Flint on Crops: Cover Crops Provide Many Benefits10-20

    Keith Good: Lawsuits Concerning GMO Corn Mount Against Syngenta AG10-20

    New Holland Combine Sets Guinness Harvest Record10-18

    Rice Market: Sideways Movement Continues10-17

    Rice Crop: Delta Region Saw Harvest Delays with Storms10-17

    AFB Grain-Soybean Close: Wheat Follows Corn, Soybeans Lower10-17

    AFB Cotton Close: Dec. Moves Lower10-17

    AFB Rice Close: Futures Recover from Early Losses10-17

    Rose on Cotton: Dec Contract Still Under Pressure10-17

    Cleveland on Cotton: Exports Lowest in ‘My Memory’10-17

    DTN Livestock Close: Futures End Week Mixed10-17

    Brazil: Beef Production Steps Up Over Next 10 Years10-17

    DTN Cotton Close: Mixed As Dec. Loses Ground10-17

    Soybeans: Neonic Seed Treatment Little or No Benefit, says EPA – DTN10-17

    Informa Forecast: Soybean Acres Up 4.3M in 2015 – DTN10-17

    DTN Grain Close: Prices Down for the Day, Positive for the Week10-17

    Crop Margins Tighten, Living Expenses Not Far Behind10-17

    USDA: Peanut Price Highlights10-17

    DTN Livestock Midday: Feeder Cattle Turn Sharply Lower10-17

    Georgia: 6 Counties Declared Natural Disaster Areas10-17

    DTN Grain Midday: Wheat Leads in Mixed Trade10-17

    Livestock: WTO Ruling on Country of Origin Labeling Expected Soon — DTN10-17

    DTN Cotton Open: Ticks Slightly in Red10-17

    U.S. Energy: Narrowing Brent-WTI Spread Impacts Global Crude Markets10-17

    Gasoline Prices: Show 9-Cent Decline10-17

    Propane Stocks: Rise by 0.7M Barrels10-17

    Diesel Prices: Average Decreases 4 Cents10-17

    Georgia Blueberries: State Leads Nation in Production — 96M Pounds10-17

    Farm Bill Contingency Plans: How Optimistic are You? – DTN10-16

    Arkansas Agriculture Secretary Calhoun Retiring10-16

    Georgia: Waste Pesticide Disposal, Quitman, Oct. 3010-16

    Global Ag: Ebola Hits West Africa Hard – DTN10-16

    Grain Markets: Crop Prices Up After Bearish USDA Report10-16

    DTN Grain Close: Markets Defy Bearish Expectations, Move Higher10-16

    Brazil Soybeans: Dry Conditions Put Planting on Hold10-16

    U.S. Grain Transportation: Rail Backlog Grows, Secondary Bids Spike10-16

    U.S. Drought Outlook: Improvements for Southwest, Southern CA10-16

    Coarse Grain Outlook: Record Corn Yields Produce Record Crop10-16

    Rice Outlook: U.S. Production Projection Raised to 220.7M Cwt10-16

    Resistant Weeds: USDA Accelerates the Fight — DTN10-16

    Mississippi Soybeans: Poised to Shatter Record for Average Yield10-16

    Keith Good: Beige Book — Observations on Ag Economy10-16

    Cotton Outlook: Global Stock Growth to Slow in 2014-1510-15

    Oil Crops Outlook: Soybean Prices Depressed by Historically High Supply10-15

    Wheat Outlook: Endings Stocks Lower on Increased Usage10-15

    Enlist Duo Herbicide Approved for Use in 6 States — DTN10-15

    State Environmental Agency Calls on EPA to Withdraw Water Rule — DTN10-15

    Georgia: Tifton’s Grimes Named Southeastern Farmer of Year10-15

    Doane Cotton Close: Volatility Reigns in Market10-14

    Corn Harvest Reaches 24%, Soybeans at 40, Cotton 22 — DTN10-14

    Louisiana Soybeans: Kudzu Bugs Spreading Through the State10-14

    USDA: Weekly National Peanut Prices10-14

    DTN Fertilizer Trends: Prices Show Little Movement10-14

    Payment Level Indicators for ARC-CO, PLC Based on October WASDE Data10-14

    Tennessee: Winter Row Crop Production Meeting Dec. 15 at Oakland10-14

    Landowner Beats IRS Over Conservation Program Payments – DTN10-14

    Sunbelt Ag Events

     

    About Us

    AgFax.Com covers agricultural trends and production topics, with an emphasis on news about cotton, rice, peanuts, corn, soybeans, wheat and tree crops, including almonds, pecans, walnuts and pistachios.

      

    This site also serves as the on-line presence of electronic crop and pest reports published by AgFax Media LLC (formerly Looking South Communications).

        

    Click here to subscribe to our free reports.

      

    We provide early warnings and confirmations about pests, diseases and other factors that influence yield. Our goal is to quickly provide farmers and crop advisors with information needed to make better and more profitable decisions.

         

    Our free weekly crop and pest advisories include:

    • AgFax Midsouth Cotton, covering cotton production and news in Alabama, Arkansas, Louisiana, Mississippi, Tennessee and Missouri.

    • AgFax Southeast Cotton, covering cotton production and news in Alabama, Florida, Georgia, North Carolina, South Carolina and Virginia.

    • AgFax Southwest Cotton (new for 2013!), covering cotton production and news in Texas, Oklahoma, Kansas and New Mexico.

    • AgFax West (formerly MiteFax: SJV Cotton), covering California cotton, alfalfa, tomatoes and other non-permanent crops in California's Central Valley.

    • AgFax Rice covering rice production and news in Arkansas, Louisiana, Mississippi, Missouri and Texas.

    • AgFax Peanuts, covering peanut production in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Texas and Virginia.

    • AgFax Southern Grain: covering soybeans, corn, milo and small grains in Southern states.

    • AgFax Almonds, covering almonds, pistachios, walnuts and other tree crops in California's Central Valley.

    • AgCom 101, providing guidance to ag professionals involved in social media.

    Our newsletters are sponsored by the following companies: FMC Corporation Chemtura Dow AgroSciences.

          

    Mission statement:

    Make it as easy as possible for our community of readers to find and/or receive needed information.

              

    Contact Information:

    AgFax Media. LLC

    142 Westlake Drive Brandon, MS 39047

    601-992-9488 Office 601-992-3503 Fax

    Owen Taylor Debra L. Ferguson Laurie Courtney

          

    Circulation Questions?

    Contact Laurie Courtney