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Corn Situation and Outlook

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  1. Corn Situation and Outlook Historical Perspective and Outlook for 2007

  2. Corn Production, Ending Stocks, and Price, 1992-2007

  3. U.S. Corn Ending Stocks and Price, 1992-2007

  4. U.S. & Foreign Corn Ending Stocks 1996-2007

  5. Supply/Demand Projections:2006/2007 Corn ----------Supply/Demand ---------- Low/High Exp/Exp High/Low Beginning Stocks(MB) 1967 1967 1967 Acres (M. P. A.) 78.3 Yield 149.1 Supply(M. Bu) 12512 Use: Feed 5975 Ethanol 2150 Food, Seed 1385 Exports 2250 Ending Stocks 673 752 831 Projected Price $3.50 $3.30 $3.10

  6. Supply/Demand Projections:2007/2008 Corn ----------Supply/Demand ---------- Low/High Exp/Exp High/Low Beginning Stocks(MB) 752 752 752 Acres (MPA) 84.0 87.0 90.0 Acres (MHA) 76.0 78.7 81.4 Yield 147 152 157 Supply(M. Bu) 11934 12724 13542 Use: Feed 5600 Ethanol 3150 Food, Seed 1390 Exports 1900 Ending Stocks 350 684 1500 Projected Price $5.50 $3.80 $3.15

  7. Wheat Situation and Outlook Historical Perspective and Outlook for 2007

  8. Wheat Production, Ending Stocks, and Price, 1993-2007

  9. U.S. Wheat Ending Stocks and Price, 1993-2007

  10. U.S. & Foreign Wheat Ending Stocks, 1996-2007

  11. Supply/Demand Projections:2006/2007 Wheat ----------Supply/Demand ---------- Low/High Exp/Exp High/Low Beginning Stocks(MB) 571 Acres (M. A. Planted) 57.3 Yield 38.7 Supply(M. Bu) 2498 Use: Food, Seed 1006 Feed, Resid 145 Exports 875 Ending Stocks 438 472 505 Projected Price $4.40 $4.20 $4.00

  12. Supply/Demand Projections:2007/2008 Wheat ----------Supply/Demand ---------- Low/High Exp/Exp High/Low Beginning Stocks(MB) 472 472 472 Acres (M. A. Planted) 56.0 58.0 60.0 Yield 38.0 42.0 44.0 Supply(M. Bu) 2396 2658 2831 Use: Food, Seed 1005 Feed, Resid 145 Exports 900 Ending Stocks 350 608 780 Projected Price $5.00 $3.35 $2.85

  13. Soybean Situation and Outlook Historical Perspective and Outlook for 2007

  14. Soybean Production, Ending Stocks, and Price, 1993-2007

  15. U.S. Soybean Ending Stocks and Price, 1993-2007

  16. U.S. Soybean Ending Stocks vs. Price, 1990-2007 ‘03 ‘96 ‘95 ‘97 ‘06 ‘93 ‘04 ‘90 ‘05 ‘02 ‘94 ‘91 ‘92 ‘98 ‘99 ‘00 ‘01

  17. U.S. & Foreign Soybean Ending Stocks, 1996-2007

  18. U.S. & Foreign Soybean Meal Ending Stocks, 1997-2007

  19. U.S. & Foreign Soybean Oil Ending Stocks, 1997-2007

  20. Supply/Demand Projections:2006/2007 Soybeans ----------Supply/Demand ---------- Low/High Exp/Exp High/Low Beginning Stocks(MB) 449 449 449 Acres (M. P. A.) 75.2 75.5 75.8 Yield 42.5 42.7 42.9 Supply(M. Bu) 3611 3642 3666 Use: Crushing 1780 Exports 1100 Seed, Feed 166 Ending Stocks 461 595 729 Projected Price $6.50 $6.25 $6.00

  21. Supply/Demand Projections:2007/2008 Soybeans ----------Supply/Demand ---------- Low/High Exp/Exp High/Low Beginning Stocks(MB) 595 595 595 Acres (M. P. A.) 68.0 70.0 72.0 Yield 38.0 42.0 44.0 Supply(M. Bu) 3141 3493 3719 Use: Crushing 1780 Exports 1100 Seed, Feed 166 Ending Stocks 120 447 650 Projected Price $8.50 $6.50 $5.50

  22. Grain Sorghum Situation and Outlook Historical Perspective and Outlook for 2007

  23. Sorghum Production, Ending Stocks, and Price, 1996-2007

  24. U.S. Sorghum Ending Stocks and Price, 1996-2007

  25. Supply/Demand Projections:2006/2007 Sorghum ----------Supply/Demand ---------- Low/High Exp/Exp High/Low Beginning Stocks(MB) 66.0 66.0 66.0 Acres (M. P. A.) 6.5 6.5 6.5 Supply(M. Bu) 343 343 343 Use: Food & Seed 45 Exports 150 Feed 110 Ending Stocks 27 38 49 Projected Price $3.40 $3.20 $3.00

  26. Cotton Situation and Outlook Historical Perspective and Outlook for 2007

  27. Cotton Production, Ending Stocks, and Price, 1993-2007

  28. U.S. Cotton Ending Stocks and Price, 1993-2007

  29. U.S. & Foreign Cotton Ending Stocks, 1997-2007

  30. Supply/Demand Projections:2006/2007 Cotton ----------Supply/Demand ---------- Low/High Exp/Exp High/Low Beginning Stocks(MB) 6.0 6.0 6.0 Acres (M. P. A.) 15.25 15.27 15.30 Yield 815 819 823 Supply(MB) 27.7 27.8 28.0 Use: Domestic 5.0 Exports 14.5 Ending Stocks 7.2 8.3 9.4 Projected Price/cwt $54 $48 $42

  31. Supply/Demand Projections:2007/2008 Cotton ----------Supply/Demand ---------- Low/High Exp/Exp High/Low Beginning Stocks(MB) 8.3 8.3 8.3 Acres (M. P. A.) 13.5 14.0 14.5 Yield 750 800 850 Supply(MB) 27.2 29.2 31.2 Use: Domestic 5.0 Exports 15.0 Ending Stocks 7.0 9.2 11.0 Projected Price/cwt $50 $45 $40

  32. What Could Change The Outlook? • South America • Plant Mix • Non-Farm Economic Conditions in U.S., World – Oil Supplies, War • Exchange Rates • China • Weather