Home   News

Oil Crops Outlook

Very low August rainfall for the Midwest triggered a 1.4-bushel-per-acre reduction in the 2013/14 U.S. soybean yield forecast to 41.2 bushels. This year’s soybean crop is expected to total 3.149 billion bushels—down 106 million against last month’s forecast. Despite a lowering of 2013/14 exports and domestic use, a reduced soybean crop cuts this month’s forecast of season-ending stocks by 70 million bushels to 150 million. As a consequence, USDA raised its forecast of the U.S. season-average farm price for 2013/14 to $11.50-$13.50 per bushel from $10.35-$12.35 last month.

In Brazil, strengthening soybean prices are expected to raise its 2013/14 soybean area by 4 percent to 28.9 million hectares. That could boost Brazil’s soybean crop to a record 88 million metric tons, which—if realized—would top U.S. production (85.7 million) for the first time. Soybean export expansion from Brazil in 2013/14 to a record 42.5 million tons would intensify the competition with U.S. exports.

Full View Click Here

Source: USDA

Trending Video

HOT Corn and a Broken Stirator | Emptying A Grain Bin

Video: HOT Corn and a Broken Stirator | Emptying A Grain Bin

The corn in the bin started to heat after the stirator kept losing bolts, so we decided it would be best to sell what we had in the bin.