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October 8, 2020
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Flat Rate Crops
• Did not meet the 5% or greater decline … separate from CFAP 1 and any other program payments)
• The …
August 1, 2021
General Sessions, Grain Marketing Presentations
8/18/2021
Kazakhstan on track to meet 2021-2022 grain export target … competition for acres from other Kansas crops in 2022 (Feedgrains …
August 1, 2021
Breakout Sessions
8/18/2021
Kazakhstan on track to meet 2021-2022 grain export target … costs
into Middle Eastern & other foreign markets
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13
14
2021 …
2021 Risk and Profit Conference Recordings
8/18/2021
Kazakhstan on track to meet 2021-2022 grain export target … competition for acres from other Kansas crops in 2022 (Feedgrains …
August 1, 2023
Breakout Sessions
36.2% 39.3%
Sausages and Other Products 7.8% 7.4%
Bacon … Chilled 74.5% 65.4%
Poultry Meet Preparations 11.0% 23.4%
Meat …
December 11, 2018
and
1990s have not offset other problems.
9. The facts support … Evaluation Advisory Committee Meeting
February 1, 2017
Presentation … Beef Association Annual
Meeting Nashville, TN
Creating and …
November 1, 2009
Pork Quality Grading System and Wholesale Pork Price Reporting
journal articles and
numerous other
publications. Schroeder … 68
6.2 Other Potential Drawbacks ..........................................................................................71 … mandatory reporting, several other
considerations are worth …
November 1, 2009
journal articles and
numerous other
publications. Schroeder … 68
6.2 Other Potential Drawbacks ..........................................................................................71 … mandatory reporting, several other
considerations are worth …
May 19, 2014
Grain Market Outlook
2014 CME eSoybeans
12/20/2013 – 5/19/2014
Close: $12.36 ¾ on May 19th
Page | 3
May 13th to a high of $12.44 ½ on May 19th, before closing at $12.38 ¾ on that same day. Prior to the May 9th
report, NOV 2014 soybean futures had trend sharply higher from a low of $10.88 ¼ on January 31st to a high of
$12.49 ¼ on April 28th prior to moving generally lower to the May 16th close of $12.21 ¼.
I‐C. U.S. Soybean Supply‐Demand
U.S. Soybean Acreage, Yield & Production
Following from the results of March 31st USDA NASS Prospective Plantings Report, the USDA projected
that 2014 U.S. soybean total planted acreage would be a record high 81.493 million acres (ma), up from 76.533
ma in 2013, 77.198 ma in 2012, and 75.046 ma in 2011 (Table 1 and Figure 2). In addition, the USDA projected
2014 U.S. soybean harvested acreage to be 80.5 ma, up from 75.869 ma in 2013, and 76.164 ma in 2012, but
up from 73.776 ma in 2011.
The forecast 2014 proportion of harvested‐to‐planted acreage for all U.S. soybeans is projected to be
98.7%, down from 99.1% in 2013, but comparable to 98.7% in 2012 and 98.3% in 2011. The U.S. average and
median (i.e., the 50th percentile or “middle”) soybean percent harvested‐to‐planted acreage over the years of
2004‐2013 have both been 98.7% , with a high of 99.1% in 2007 and 2013, and a low of 98.3% in 2011. Using
the 2004‐2013 average percent harvested‐to‐planted acreage proportion of 98.7% would lead to a projection
of U.S. 2014 harvested acres of 80.469 ma – marginally less (down 31,000 acres) than the USDA’s projection of
80.5 ma, and within the rounding error of 100,000 acres for the forecast.
The projected 2014 U.S. average soybean yield of 45.2 bushels per acre (bu/ac) would be a record high, up
from 43.3 bu/ac in 2013, the drought affected 2012 yield of 39.8 bu/ac., and the historic high of 44.0 bu/ac in
2009 (Table 1 and Figure 3). Based on these 2014 acreage and yield forecasts, the USDA projected 2014 U.S.
soybean production to be a record high 3.635 billion bushels (bb) – which is up from 3.289 bb in 2013, 3.034
bb in 2012, 3.094 bb in 2011, 3.329 in 2010, and 3.359 bb in 2009 (Table 1).
U.S. Soybean Total Supplies
The USDA estimates that total supplies of U.S. soybeans for “new crop” MY 2014/15 are 3.780 bb –
resulting from beginning stocks of 130 mb, projected 2014 production of 3.635 bb, and projected imports of 15
mb (Table 1). Total supplies of 3.780 bb in “new crop” MY 2014/15 would be a record high, comparable to
3.655 bb in MY 2006/07 (2nd highest), 3.261 bb in MY 2007/08, 3.185 bb in MY 2008/09, 3.512 bb in MY
2009/10 (4th highest), 3.495 bb in MY 2010/11 (5th highest), 3.325 bb in MY 2011/12, 3.239 bb in MY 2012/13,
and 3.519 bb in “current year” MY 2013/14 (3rd highest). Beginning stocks of 130 mb in “new crop” MY
2014/15 are down from 141 mb in “current year” MY 2013/14, 169 mb in MY 2012/13, and 215 in MY
2011/12, and is comparable to the low of 112 mb occurring in MY 2004/05, and to what is at least a 40 year
low of 103 mb in MY 1977/78.
U.S. Corn Use by Category & Total Use
Domestic Crush: Projected U.S. soybean domestic crushings of 1.715 bb in “new crop” MY 2014/15 is up
from 1.695 bb for “current” MY 2013/14 (which as lowered 10 mb from April), 1.689 bb in MY 2012/13, and
from 1.703 bb in MY 2011/12 (Table 1 and Figure 4). The record high amount 1.808 bb of U.S. soybean
domestic crushings occurred in MY 2006/07, followed closely time and quantity‐wise with 1.803 bb in MY
2007/08.
Page | 4
U.S. Soybean Exports: Projected U.S. soybean exports of 1.625 bb in “new crop” MY 2014/15 would be a
record high, up from the current forecast high of 1.600 in “current” MY 2013/14 (which was raised 20 mb from
April) (Table 1 and Figure 4). Beginning in MY 2006/07, U.S. soybean exports were 1.116 bb, followed by 1.159
bb in MY 2007/08, 1.279 bb in MY 2008/09, 1.499 bb in MY 2009/10 (3rd highest on record), 1.501 bb in MY
2010/11 (2nd highest on record), 1.365 bb in MY 2011/12, 1.320 bb in “last year’s” MY 2012/13, 1.600 bb in
“current” MY 2013/14 (the historic record high if actually attained), and now the projected record high of
1.625 bb in “new crop” MY 2014/15.
Regarding the current pace of U.S. soybean export shipments and sales, as of May 8th, with 40 of 52 weeks
(76.9%) of “current” MY 2013/14 complete, 1.558 bb of U.S. soybeans had been shipped for export – equal to
97.4% of the USDA’s updated projection of 1.600 bb for “current” MY 2013/14. United States’ export
shipments will need to average only 3.5 mb per week through the remainder of the “current” 2013/14
marketing year to attain the USDA’s May WASDE projection of 1.600 bb. This compares to U.S. soybean export
shipments of 10.0 mb and 9.9 mb which occurred during the weeks ending May 1st and 8th, respectively. As a
result, these recent U.S. soybean export shipments were “ahead of pace” to meet the USDA marketing year …
March 21, 2014
Grain Market Outlook
… If this amount of additional U.S. soybean shipments were to actually occur in the MY 2013/14
then there would be an additional 102 mb in U.S. soybean usage (i.e., 1.632 – 1.530 bb = 102 mb).
As a consequence – with all other U.S. soybean supply‐dema … …