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July 2013 USDA World Agriculture Supply and Demand Estimates

  • July 11, 2013
  • by wbabler
July 13 USDA World Agriculture Supply and Demand Estimates
  • ’12/’13 Corn
    • Feed and residual use was adjusted up 50 million while imports were up 10 million leaving ending stocks at a tight 729 million bushels or 23.7 days of use.
  • ’13/’14 Corn
    • Total production was down by 55 million bushels on lower harvested area.
    • Feed use and exports estimates were both reduced by 50 million but are still up significantly versus the current year.
    • Ending stocks were projected at 1.959 billion bushels or 56.1 days of use which was above most private estimates and one of the highest projections for domestic supplies since 2004/2005.
  • ’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 increase by 30 million bushels on higher planted and harvested area.
    • Ending stocks were projected at 295 million bushels or 33.0 days of use.
  • Other Markets 
    • World wheat demand & US exports were revised significantly higher this month due primarily to greater use in China boosting demand for US supplies.
    • Dairy skim-milk product exports are expected to remain strong for the remainder of 2013 on healthy demand for NFDM or equivalent products as competitor supplies remain tight.
http://usda01.library.cornell.edu/usda/current/wasde/wasde-07-11-2013.pdf  
June ’13 USDA Planted Acreage Report
August 2013 USDA World Agriculture Supply and Demand Estimates
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Galena, IL 61036
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