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December 2013 USDA World Agriculture Supply and Demand Estimates

  • December 16, 2013
  • by wbabler
December ’13 USDA World Agriculture Supply and Demand Estimates
  • ’12/’13 Corn
    • No change from previous month’s forecast.
  • ’13/’14 Corn
    • Corn for ethanol production and exports were revised higher by 50 million bushels each
    • Ending stocks were projected at 1.792 billion bushels or 50.1 days of use which was on the lower end of private estimates.
  • ’12/’13 Soybeans
    • No change from previous month’s forecast.
  • ’13/’14 Soybeans
    • Exports were increased 25 million bushels along with a 5 million bushel increase in crush estimates.
    • Ending stocks were projected at 150 million bushels or 16.7 days of use. This was in line with trade estimates.
  • Other Markets 
    • World soybean ending stocks came in below estimates given unchanged production in Brazil at 70.6 million (up nearly 20% from last year’s ending stocks).
    • World wheat output was sharply higher on strong Canadian and Austrialian production pushing ending stocks up 4.3 million metric tons vs. previous month’s estimate.
    • US milk output was projected higher for 2013 and 2014 on rising cow numbers.
http://usda01.library.cornell.edu/usda/current/wasde/wasde-12-10-2013.pdf  
November 2013 USDA World Agriculture Supply and Demand Estimates
January 2014 USDA World Agriculture Supply and Demand Estimates
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