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.


Leave a Reply

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 Your email will not be published or shared with third parties.

Sunbelt Ag News

    Texas Rice: Section 18 Requires More Work Than You Might Think – Mo Way3-27

    Farmland Partners Buys 15,000 Row Crop Acres In Carolinas, Virginia3-27

    Rice Market: Export Pace Continues Strong, Still Not Much Planting3-27

    AgFax Rice Review: China Maintains Min. Price Procurement; High-Tech Varieties Not Always Best3-27

    AgFax Cotton Review: Variety Is Key to Profitability; Australia Suffers from Major Storm3-27

    Rose on Cotton: Don’t Miss an Opportunity. Get Short Terms in Place.3-27

    Grain TV: Soybean Basis Improves3-27

    Video: 8 Need-to-know Things About Southern Grain3-27

    Cover Crops: What’s the Cost? Online Tool Helps Figure it Out.3-27

    DTN Livestock Close: Hogs Cautious Ahead of Reports3-27

    ARC-PLC Deadline Extension: 77% of Farmers Have Made a Decision – DTN3-27

    Soybeans: What Inputs Can You Cut Back? 5 Main Choices. – DTN3-27

    Cleveland On Cotton: “December has 70-cents-plus written all over it.”3-27

    Texas: Feral Hog, Predator Management Workshop, Rocksprings, April 243-27

    Weekly Cotton Market Review – USDA3-27

    DTN Cotton Close: Light Volume with Outside Support3-27

    DTN Grain Close: Market Concerns Over Tuesday’s Reports3-27

    Video: 13 Best Practices to Manage Tarnished Plant Bugs3-27

    Peanut Stocks: Utilization Up 7% Over Last Year3-27

    USDA: Peanut Price Highlights3-27

    Soybeans: How Has Chinese Demand Impacted the Market? – farmdoc3-27

    Oklahoma City Farm Show, April 3-53-27

    Texas: Hale and Swisher Crops Conference, Plainview, April 143-27

    Louisiana: Soybean Board Awards LSU $1.9M for Soy Research3-27

    DTN Livestock Midday: Cattle Complex Gains Strength3-27

    DTN Grain Midday: Market Indices Higher3-27

    Base Acres and ARC-PLC Deadline Extended to April 7 – No Surprise Here.3-27

    Mississippi: Students Learn Soil Management, Conservation by Getting Down in the Dirt3-27

    Estate Planning: Farmers Gift the Farm to Their Rural Community – DTN3-27

    Southern Corn: Wide Delays Continue, How Late Can You Go? – AgFax3-27

    Corn Maybe Has More Bullish Potential Than Beans Ahead Of USDA Projections3-27

    DTN Cotton Open: Little Change on Thin Volume3-27

    Georgia: Wheat Leaf Rust Detected, May Want to Check the Field3-27

    Crop Subsidies Deadline: Confusing Info, 25% Farmers Still Not Sure What to Do – Keith Good3-27

    Texas A&M: Run USDA On-Line Decision Tool Again. Say What? – Keith Good3-27

    DTN Livestock Open: Limited Feedlot Offerings3-27

    DTN Grain Open: Pressure By Rally in the U.S. Dollar Index3-27

    Death Tax: South Dakota Congressman Pushes Repeal, Tells Her Story – Video3-26

    Environmental Group Questions USDA’s Science Integrity – DTN3-26

    Making Money With Manure, Advantages of Composting and Additives – DTN3-26

    Chumrau on Wheat: Where More Rain is Needed to Make the HRW Crop3-26

    Texas Wheat: Concho, McCulloch Counties Wheat Tour, Millersview, April 303-26

    Sorghum: Why It’s South China’s Hottest Import Grain – DTN3-26

    ELS Cotton Competitive Payment Rate Is Zero3-26

    Moving Grain: Ohio River Barge Traffic Improves3-26

    Video: Summary of U.S. Drought Monitor in One Minute3-26

    Drought Monitor: Warm, Dry Weather Further Depletes Snowpacks3-26

    Wheat Yields: What to Expect? A Historical Perspective – farmdoc3-26

    Oklahoma: Ag Pesticide Disposal, Purcell, April 223-26

    Residential Propane, Heating Oil: Prices Decrease3-26

    Diesel: Prices Decrease3-26

    Gasoline: Prices Up Slightly3-26

    U.S. Energy: Gasoline Specifications Change and So Does the Price3-26

    Midwest Soybean Plantings Up If Weather Delays Continue – DTN3-26

    New Swine Census Expected to be Full of “Oopsies” – DTN3-26

    Grain TV: Increased Ethanol Production3-25

    AgFax Grain Review: Manage for Higher Soy Yields; Less Corn to Switch to Soybeans3-25

    Michigan: 31 Counties Designated Natural Disaster Areas3-25

    Oklahoma: Payne County Designated Natural Disaster Area3-25

    Marketing: Are You Really Getting the Best Price for Your Crop? – farmdoc3-25

    Spray Drift: Checking Wind Speed Isn’t Enough – DTN3-25

    Irrigation – Moisture Sensors Pay Dividends, Says This Consultant (Podcast)3-25

    Illinois Soybean Farmers Asked to Complete Online Survey3-25

    Grain TV: Improved Crop Conditions in Southern Plains3-24

    AFB Grain-Soybean Close: Dollar Support Gives Way3-24

    AFB Cotton Close: Dec. Holds Above 643-24

    AFB Rice Close: Unable to Hold Daily Highs3-24

    Welch on Wheat: Crop Conditions Continue to Improve3-24

    California Tree Crops: 12 Quick Things To Know This Week (Video)3-24

    Welch on Grain: Fewer Corn Acres, More Soybeans Expected in USDA Reports3-24

    Peanuts: Southern Growers Conference Set For July 23-253-24

    Farm Bill: USDA Seeks to Limit Payments to Non-Farmers3-24

    Planting: 11 Maintenance Steps for Your Planter3-24

    Crop Production Forecast: Needing a Clearer Crystal Ball – USDA Blog3-24

    USDA: Weekly National Peanut Prices3-24

    Non-Family Farm Managers: Proof Required for Program Payments, 2016 – DTN3-24

    DTN Fertilizer Trends: Price Stability Could Be an Illusion3-24

    Avian Flu Prevention is the Best Form of Poultry Protection – DTN3-24

    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

    Owen Taylor Debra L. Ferguson Laurie Courtney

          

    Circulation Questions?

    Contact Laurie Courtney +