USDA recently issued revised projections for the 2006-2007 maize and soybeans. This is necessarry due to the higher demand for raw materials, primarly for the ethanol industry.
More soybeans in 2007
The total supply of
soybeans will increase by almost 10% as a result of a 5% increase in area
planted but with no increase in average yield. It is anticipated that domestic
use of soybeans for feed and industry will increase by less than 1% allowing for
a 21% increase in exports. The average price of soybeans for the 2006-2007
harvest will be approximately 3% lower than the previous year at € 220.60/metric
ton. (Simon Shane)
Forecast values for
production and disposition covering the 2006-2007 growing season are tabulated
below:
Maize |
Soybeans
Planted
31.44 m Ha
30.24 m Ha
Yield
9.43 mtons/Ha
1.17 mtons/Ha
Production + Inventory
318.1 m mtons
99.5 m mtons
Animal Feed
151.2 m mtons
—
Industrial & Domestic use
88.5 m mtons
4.6 m mtons
Ethanol production (maize)
53.8 m mtons
—
Crushing and extraction (soy)
—
48.4 m mtons
Exports
55.0 m mtons
31.1 m mtons
End Stock
23.4 m mtons
15.4 m mtons
Average Forecast ex-Farm Price
€94.80 / mton
€220.60/mton
Conversion factors: 1 bu. Maize = 25.0 kg 1 bu. soybeans = 27.2
kg
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