World Agricultural Outlook Board Interagency Commodity Estimates Committee Forecasts Lockup Briefing September 11, 2014.

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Presentation transcript:

World Agricultural Outlook Board Interagency Commodity Estimates Committee Forecasts Lockup Briefing September 11, 2014

World Wheat Production September 11, 2014

World Wheat Supply and Use September 11, 2014

U.S. Wheat Supply and Demand September 11, 2014

World Rice Production September 11, 2014

World Rice Supply and Use September 11, 2014

U.S. Rice Supply and Demand Rough Equivalent of Rough and Milled Rice September 11, 2014

World Corn Production September 11, 2014

Source: Ministry of Agriculture As of September 9, cumulative yield in the Southern District is reported at 5.07 t/ha (8% above the same date last year) with harvest 28 percent complete. Results from individual territories: In Krasnodar (Southern), yield is up 14% from last year with harvest 38% complete. In Rostov (Southern), yield is down 2% with harvest 14% complete. In Stavropol (North Caucasus), yield is up 5% with harvest 18% complete. In Belgorod (Central), yield is down 6% with harvest 6% complete. September 11, 2014

Weather problems in 2003, 2007, and 2009 Yield – 5.9 T/Ha USDA/FAS/OGA September 11, 2014

World Corn Supply and Use September 11, 2014

U.S. Corn Supply and Demand September 11, 2014

World Soybean Production September 11, 2014

Canada Rapeseed Production September 11, 2014

Statistics Canada’s Rapeseed Expected vs Actual Difference September 11, 2014

Soybean area up 4.7 percent from last year Eighth year of expanding soybean area, but for different reasons 1.Converted pasture and cerrado  Northeastern Mato Grosso.  New frontier--MaPiToBa: Maranhao, Piaui, Tocantins, and Bahia 2.Better economic returns than corn  Southern states of Parana and Rio Grande do Sul Brazil: Soybean 2014/15 Area Increases to a Record September 11, 2014

Brazil’s Soybean Production by Region Shift from Southern Brazil to Center-West Southern states: Parana, Rio Grande do Sul and Santa Catarina Center-west states: Mato Grosso, Mato Grosso do Sul and Goias September 11, 2014

U.S. Soybean Supply and Demand September 11, 2014

World Cotton Production September 11, 2014

World Cotton Supply and Use September 11, 2014

U.S. Cotton Supply and Demand September 11, 2014

Mexico Sugar Supply and Demand September 11, 2014

U.S. Sugar Supply and Demand September 11, 2014

U.S. Meat Production and Prices September 11, 2014

U.S. Meat Trade Million Pounds September 11, 2014

U.S. Milk Supply and Demand September 11, 2014

U.S. Dairy Product Prices September 11, 2014

U.S. Production Summary September 11, 2014

Domestic Demand Summary September 11, 2014

U.S. Export Summary September 11, 2014

Price Summary September 11, 2014