Oil Crops Outlook: May 2012
by Mark Ash
Outlook No. (OCS-12e) 21 pp, May 2012
Using a long-term yield trend of 43.9 bushels per acre and an estimated harvested area of 73 million acres, the U.S. soybean crop for 2012 is projected up 5 percent to 3.205 billion bushels. Fast early shipments are forecast to raise U.S. soybean exports for 2012/13 to a record 1.505 billion bushels. Season-ending soybean stocks are projected at 145 million bushels—near an all-time low as a percentage of total use. Another record high could be set in 2012/13 for the U.S. soybean farm price at $12 to $14 per bushel.
Keywords: Soybean S&D, Soybean meal, soybean oil, cottonseed, cottonseed oil, peanuts, oilseed prices, vegetable meal prices
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