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February 2013 USDA World Agriculture Supply and Demand Estimates

  • February 8, 2013
  • by wbabler
February 13 USDA World Agriculture Supply and Demand Estimates
  • ’11/’12 Corn
    • No changes.
  • ’12/’13 Corn
    • Industrial and seed use was up 20 million bushels.
    • Exports were reduced by 50 million bushels.
    • Ending stocks were projected at 632 million bushels or 20.5 days of use which was near private estimates.
  • ’11/’12 Soybeans
    • No changes.
  • ’12/’13 Soybeans
    • Crush was increased 10 million bushels reflecting strong demand for soybean meal.
    • Ending stocks remain very tight at 125 million bushels or 14.8 days of use.
  • Other Markets 
    • World corn production was estimated 2 million tons higher led by better output in Brazil.
    • World soybean ending stocks are estimated at 60 million tons up 5 million over 2011/2012 on strong South American production.
http://usda01.library.cornell.edu/usda/current/wasde/wasde-02-08-2013.pdf  
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