wmeubank@ocp.kcmo.com
1996/97 1997/98 1997/98
June 12 May 12 June 12
"Corn"
(in million bushels)
Carry In 426 909 909
Production 9,293 9,840 9,840
Imports 10 10 10
Total Supply 9,729 10,759 10,759
Feed 5,325 5,600 5,600
Crush/Mill 1,640 1,730 1,730
Seed/Other 30 30 30
Exports 1,825 2,050 2,050
Total Use 8,820 9,410 9,410
End Carryout 909 1,349 1,349
Average Price $2.75 $2.45 $2.45
"Soybeans"
(in million bushels)
Carry In 183 125 130
Production 2,383 2,600 2,600
Imports 20 5 5
Total Supply 2,586 2,730 2,735
Feed
Crush/Mill 1,430 1,450 1,455
Seed/Other 130 130 130
Exports 895 890 910
Total Use 2,456 2,470 2,495
End Carryout 130 260 240
Average Price $7.35 $7.30 $6.30
"Wheat"
(in million bushels)
Carry In 376 465 460
Production 2,282 2,262 2,304
Imports 90 90 90
Total Supply 2,748 2,817 2,854
Feed 300 250 250
Crush/Mill 901 895 910
Seed/Other 102 100 100
Exports 996 1,000 1,025
Total Use 2,288 2,260 2,275
End Carryout 461 557 579
Average Price $4.35 $3.90 $3.75
USDA hiked projected ending stocks for wheat because of a jump in projected winter wheat production (HRW), and a slightly smaller mill use. Old-crop wheat exports were increased slightly, but additional changes may be made after Census data is available. Soybean ending stocks for '96/'97 were raised to show the impact of a hike in imports to 20 million bushels. USDA raised projected crush by 10 million. New-crop ending stocks were cut by 20 million to reflect the strong early new-crop export sales, including the "buy backs" for South America. No changes were made in new-crop corn projections. Old-crop average cash price for the year was reduced by 5 cents, to $2.75.
June 12, 1997
DTN Grains
Added to the WWW 06-14-97
Last updated on 06-14-97
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