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Outlook for U.S. Commodities
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Outlook for U.S. Commodities by Jim Hilker, Ph. D. and John Ferris, Ph. D. MSU Department of Agricultural Economics
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Outlook for U.S. Commodities. by Jim Hilker, Ph. D. and John Ferris, Ph. D. MSU Department of Agricultural Economics. CORN BALANCE SHEET. Est. Proj. Hilker1998-991999-00 2000-01 Acre Planted (Mil) 80.2 77.4 76.8 Acre Harv. (Mil) 72.6 70.5 70.0 - PowerPoint PPT Presentation
Transcript of Outlook for U.S. Commodities
Outlook for U.S. Commodities
by Jim Hilker, Ph. D. and John Ferris, Ph. D.
MSU Department of Agricultural Economics
Est. Proj. Hilker1998-99 1999-00 2000-01
Acre Planted (Mil) 80.2 77.4 76.8
Acre Harv. (Mil) 72.6 70.5 70.0
Bu/Harvested Ac 134.4 133.8 134.9
Production (Mil Bu) 9,759 9,437 9,443
CORN BALANCE SHEET
Est. Proj. Hilker1998-99 1999-00 2000-01
Beg. Stocks 1,308 1,787 1,714
Production 9,759 9,437 9,443
Imports 19 15 13
Total Supply 11,086 11,239 11,170
CORN BALANCE SHEET(Million Bushels)
Est. Proj. Hilker1998-99 1999-00 2000-01
Uses:
Feed and
Residual 5,496 5,650 5,625
Food, Seed and
Ind. Uses 1,822 1,900 1,960
Total Domestic 7,318 7,550 7,585
Exports 1,981 1,975 2,025
Total Use 9,299 9,525 9,610
CORN BALANCE SHEET(Million Bushels)
Est. Proj. Hilker1998-99 1999-00 2000-01
Total Supply 11,086 11,239 11,170
Total Use 9,299 9,525 9,610
End. Stocks 1,787 1,714 1,560
End.Stocks,
% of Use 19.2 18.0 16.2
Reg. Loan Rate $1.89 $1.89 $1.89
U.S. Season Average
Farm Price, $/Bu. $1.94 $1.90 $2.10
CORN BALANCE SHEET(Million Bushels)
Est. Proj. Hilker1998-99 1999-00 2000-01
Acre Planted (Mil) 65.8 62.8 62.2
Acre Harv. (Mil) 59.0 53.9 54.3
Bu/Harvested Ac 43.2 42.7 40.6
Production (Mil Bu) 2,548 2,302 2,205
WHEAT BALANCE SHEET
Est. Proj. Hilker1998-99 1999-00 2000-01
Beg. Stocks 722 946 972
Production 2,548 2,302 2,205
Imports 103 100 103
Total Supply 3,373 3,348 3,280
WHEAT BALANCE SHEET(Million Bushels)
Est. Proj. Hilker1998-99 1999-00 2000-01
Uses:
Food 903 910 915
Seed 81 91 90
Feed 401 300 300
Total Domestic 1,385 1,301 1,305
Exports 1,042 1,075 1,125
Total Use 2,427 2,375 2,430
WHEAT BALANCE SHEET(Million Bushels)
Est. Proj. Hilker1998-99 1999-00 2000-01
Total Supply 3,373 3,348 3,280
Total Use 2,427 2,376 2,430
End. Stocks 946 972 850
End.Stocks,
% of Use 38.9 41.0 35.0
Reg. Loan Rate $2.58 $2.58 $2.58
U.S. Season Average
Farm Price, $/Bu. $2.65 $2.50 $2.80
WHEAT BALANCE SHEET(Million Bushels)
Est. Proj. Hilker1998-99 1999-00 2000-01
Acre Planted (Mil) 72.0 73.8 73.8
Acre Harv. (Mil) 70.4 72.8 72.5
Bu/Harvested Ac 38.9 36.5 39.2
Production (Mil Bu) 2,741 2,994 3,210
SOYBEANS BALANCE SHEET
Est. Proj. Hilker1998-99 1999-00 2000-01
Beg. Stocks 200 348 365
Production 2,741 2,643 2,842
Imports 3 3 3
Total Supply 2,944 2,994 3,210
SOYBEANS BALANCE SHEET(Million Bushels)
Est. Proj. Hilker1998-99 1999-00 2000-01
Uses:
Crushings 1,590 1,605 1,630
Exports 801 865 920
Food, Seed and
Residuals 205 159 160
Total Use 2,596 2,629 2,710
SOYBEANS BALANCE SHEET(Million Bushels)
Est. Proj. Hilker1998-99 1999-00 2000-01
Total Supply 2,944 2,994 3,210
Total Use 2,596 2,629 2,710
End. Stocks 348 365 500
End.Stocks,
% of Use 13.4 13.9 18.4
Reg. Loan Rate $5.26 $5.26 $5.26
U.S. Season Average
Farm Price, $/Bu. $4.93 $4.75 $4.50
SOYBEANS BALANCE SHEET(Million Bushels)
Low Grain and Soybean Prices
Translates intoLow Energy and Protein Costs
for the Livestock Sector
Milk Price History and Projection
History & Projection
