Corn Situation and Outlook
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Corn Situation and Outlook Historical Perspective and Outlook for 2004
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Corn Situation and Outlook. Historical Perspective and Outlook for 2004. Corn Production, Ending Stocks, and Price, 1992-2004. U.S. Corn Ending Stocks and Price, 1992-2004. U.S. & Foreign Corn Ending Stocks 1996-2004. Supply/Demand Projections:2004/2005. - PowerPoint PPT Presentation
Transcript of Corn Situation and Outlook
Corn Situation and Outlook
Historical Perspective and Outlook for 2004
Corn Production, Ending Stocks, and Price, 1992-2004
0
2000
4000
6000
8000
10000
12000
14000
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
Mill
ion
bu
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
Production Ending Stocks Price/Bu
U.S. Corn Ending Stocks and Price, 1992-2004
0
500
1000
1500
2000
2500
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
Mill
ion
bu
$1.50
$1.70
$1.90
$2.10
$2.30
$2.50
$2.70
$2.90
$3.10
$3.30
$3.50
Ending Stocks Price/Bu
U.S. & Foreign Corn Ending Stocks 1996-2004
0
1000
2000
3000
4000
5000
6000
7000
8000
1996 1997 1998 1999 2000 2001 2002 2003 2004Year
Mil
lio
n b
ush
els
Foreign Stocks U.S. Ending Stocks
Supply/Demand Projections:2004/2005 Corn ----------Supply/Demand ----------
Low/High Exp/Exp High/Low
Beginning Stocks(MB) 958 958 958
Acres (M. P. A.) 81.0
Supply(M. Bu) 12714
Use:
Feed 6075
Food, Seed 2795
Exports 2000
Ending Stocks 1484 1844 2204
Projected Price $2.20 $2.00 $1.75
Wheat Situation and Outlook
Historical Perspective and Outlook for 2004
Wheat Production, Ending Stocks, and Price, 1993-2004
0
500
1000
1500
2000
2500
3000
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
Mil
lio
n B
u
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
Production Ending Stocks Price/Bu
U.S. Wheat Ending Stocks and Price, 1993-2004
0
200
400
600
800
1000
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
Mil
lio
n B
u
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
Ending Stocks Price/Bu
U.S. & Foreign Wheat Ending Stocks, 1996-2004
0
1000
2000
3000
4000
5000
6000
7000
8000
1996 1997 1998 1999 2000 2001 2002 2003 2004Year
Mil
lio
n b
ush
els
Foreign Ending Stocks U.S. Ending Stocks
Supply/Demand Projections:2004/2005 Wheat ----------Supply/Demand ----------
Low/High Exp/Exp High/Low
Beginning Stocks(MB) 547 547 547
Acres (M. A. Planted) 59.7
Supply(M. Bu) 2770
Use:
Food, Seed 992
Feed, Resid 225
Exports 1000
Ending Stocks 503 553 603
Projected Price $3.55 $3.40 $3.20
Soybean Situation and Outlook
Historical Perspective and Outlook for 2004
Soybean Production, Ending Stocks, and Price, 1993-2004
0
500
1000
1500
2000
2500
3000
3500
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
Mil
lio
n B
u
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
$7.00
$8.00
Production Ending Stocks Price/Bu
U.S. Soybean Ending Stocks and Price, 1993-2004
0
50
100
150
200
250
300
350
400
450
500
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
Mil
lio
n B
u
$4.00
$4.50
$5.00
$5.50
$6.00
$6.50
$7.00
$7.50
$8.00
Ending Stocks Price/Bu
U.S. & Foreign Soybean Ending Stocks, 1996-2004
0
500
1000
1500
2000
2500
1996 1997 1998 1999 2000 2001 2002 2003 2004Year
Mil
lio
n B
ush
els
Foreign Ending Stocks U.S. Ending Stocks
U.S. & Foreign Soybean Meal Ending Stocks, 1997-2004
0
1
2
3
4
5
6
1998 1999 2000 2001 2002 2003 2004Year
Mil
lio
n M
etri
c T
on
s
Foreign Ending Stocks U.S. Ending Stocks
U.S. & Foreign Soybean Oil Ending Stocks, 1997-2004
0
1
1
2
2
3
3
1998 1999 2000 2001 2002 2003 2004Year
Mill
ion
Me
tric
To
ns
Foreign Ending Stocks U.S. Ending Stocks
Supply/Demand Projections:2004/2005 Soybeans ----------Supply/Demand ----------
Low/High Exp/Exp High/Low
Beginning Stocks(MB) 112 112 112
Acres (M. P. A.) 75.1
Supply(M. Bu) 3268
Use:
Crushing 1645
Exports 1010
Seed, Feed 153
Ending Stocks 343 460 577
Projected Price $5.50 $5.00 $4.50
Grain Sorghum Situation and Outlook
Historical Perspective and Outlook for 2004
Sorghum Production, Ending Stocks, and Price, 1996-2004
0.00
100.00
200.00
300.00
400.00
500.00
600.00
700.00
800.00
900.00
1996 1997 1998 1999 2000 2001 2002 2003 2004
Mil
lio
n B
u
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
Production Ending Stocks Price/Bu
U.S. Sorghum Ending Stocks and Price, 1996-2004
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
1996 1997 1998 1999 2000 2001 2002 2003 2004
Mil
lio
n B
u
$1.50
$1.75
$2.00
$2.25
$2.50
$2.75
$3.00
Ending Stocks Price/Bu
Supply/Demand Projections:2004/2005Sorghum ----------Supply/Demand ----------
Low/High Exp/Exp High/Low
Beginning Stocks(MB) 34.0 34.0 34.0
Acres (M. P. A.) 7.5
Supply(M. Bu) 505.0
Use:
Food & Seed 50
Exports 175
Feed 215
Ending Stocks 46.0 65.0 84.0
Projected Price $1.90 $1.75 $1.60
Cotton Situation and Outlook
Historical Perspective and Outlook for 2004
Cotton Production, Ending Stocks, and Price, 1993-2004
0
5000
10000
15000
20000
25000
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
Th
ou
sa
nd
Ba
les
0
10
20
30
40
50
60
70
80
90
Production Ending Stocks Price(cents/lb)
U.S. Cotton Ending Stocks and Price, 1993-2004
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
Th
ou
sa
nd
Ba
les
30
35
40
45
50
55
60
65
70
75
80
Ending Stocks Price(cents/lb)
U.S. & Foreign Cotton Ending Stocks, 1997-2004
0
10000
20000
30000
40000
50000
60000
1997 1998 1999 2000 2001 2002 2003 2004Year
Th
ou
san
d B
ales
Foreign Ending Stocks U.S. Ending Stocks
Supply/Demand Projections:2004/2005 Cotton ----------Supply/Demand ----------
Low/High Exp/Exp High/Low
Beginning Stocks(MB) 3.5 3.5 3.5
Acres (M. P. A.) 13.8
Supply(MB) 26.4
Use:
Domestic 6.2
Exports 12.5
Ending Stocks 5.7 7.7 9.3
Projected Price $50 $40 $30
What Could Change The Outlook?
South America Plant Mix Non-Farm Economic Conditions in U.S.,
World – Oil Supplies, War Exchange Rates China Weather
