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| World Soybean Markets: Consistent growth in World soybean use since MY 2008/09 has occurred in spite of periods of record high soybean prices, with further growth projected to 261 mmt for “new crop” MY 2012/13. During this same period, World soybean production has generally trended sideways in the range of 260-265 mmt, except for the short World crop in “old crop” MY 2011/12 (i.e., 238.1 mmb). Record high production of 268 mmt is again projected for “new crop” MY 2012/13.
Projections of more abundant South American soybean supplies in “new crop” MY 2012/13 – to be harvested in Argentina and Brazil in Spring 2013 with associated lower prices to result – has led to a forecast of record high World soybean exports of 99 mmt. In “new crop” MY 2012/13, World soybean use (261 mmt) is projected to be less than World production (268 mmt), leading to an increase in World soybean ending stocks up to 60 mmt (up 4 mmt) in “new crop” MY 2012/13, with projected World % ending stocks-to-use climbing to 23.0% from 21.9% in “old crop” MY 2010/11.
If actual World soybean production ends up being less than this initial USDA projection in “new crop” MY 2012/13, World soybean supply-demand balances are likely to also become tighter, with World soybean prices responding by moving to higher levels than they currently are to ration usage in spring-summer of 2013.
http://www.agmanager.info/marketing/outlook/newletters/Soybeans.asp | |
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- Nixon/Carter,exports,world - Sat : 11/21/2012 21:16
- Re: Nixon/Carter,exports,world - brownaugj : 11/21/2012 21:30
- Re: Nixon/Carter,exports,world - marlinpain : 11/21/2012 22:22
- RE: Nixon/Carter,exports,world - 7720gas : 11/22/2012 00:03
- RE: Nixon/Carter,exports,world - Clay SEIA : 11/22/2012 01:52
- Re: Nixon/Carter,exports,world - brownaugj : 11/22/2012 02:53
- Re: Nixon/Carter,exports,world - Sat : 11/22/2012 08:55
- RE: Nixon/Carter,exports,world - dairyman78 : 11/22/2012 10:24
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Nixon/Carter,exports,world
