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August 2013 USDA World Agriculture Supply and Demand Estimates

  • August 12, 2013
  • by wbabler
August 13 USDA World Agriculture Supply and Demand Estimates
  • ’12/’13 Corn
    • No significant changes leaving ending stocks at a tight 719 million bushels or 23.4 days of use.
  • ’13/’14 Corn
    • Total production was down by 187 million bushels on lower yield.
    • Exports were both reduced by 50 million but are still up significantly versus the current year.
    • Ending stocks were projected at 1.837 billion bushels or 52.9 days of use which was below most private estimates.
  • ’12/’13 Soybeans
    • Ending stocks were unchanged at a very tight 125 million bushels or 14.8 days of use.
  • ’13/’14 Soybeans
    • Total production was reduced by a very significant 165 million bushels on lower acres and yield.
    • Subsequently, exports and domestic usage were both reduced 65 and 20 million bushels respectively.
    • Ending stocks were projected at 220 million bushels or 25.3 days of use. This was below trade estimates.
  • Other Markets 
    • World wheat production was revised sharply higher by 7.5 million tons (275 million bushels) on the back of ideal growing conditions in Europe and the FSU countries.
    • World oilseed production was nearly unchanged as higher output of sunflower, rapeseed, and other oilseed crops offset the decline in US soybean production.
http://usda01.library.cornell.edu/usda/current/wasde/wasde-08-12-2013.pdf  
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