| PUBLISHED
BY SOYBEAN GROWERS FOR THE FEED INDUSTRY |
AUGUST
2006 |
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We now have new estimates for the 2006 soybean
crop. USDA is projecting soybean production in the coming year to be 3,086
million bushels based on an average yield of 39.6 bushels per acre on
74.9 million acres planted. The data relies heavily on anticipated yields,
which will change based on the weather during August and September. The
main differences are that the ending stocks of soybean and soybean meal
are significantly higher than the previous year and exports are looking
good. The big question remains, will there be timely rains in soybean
producing areas to improve the yield prospects? We should have a much
better estimate of yield and supply/demand information in the next Soybean
Meal INFOcenter newsletter. |
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SOYBEAN PRODUCTION DATA |
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Crop
Year (*) |
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| Crop Year (*) |
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|
2005/06(**) |
2006/07(***) |
Percent
Change |
|
|
|
|
|
(Million
acres) |
|
| Acres
Planted |
|
72.1 |
|
74.9 |
|
+4% |
|
|
| Acres
Harvested |
71.4 |
73.9 |
+4% |
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|
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|
(Bushels/acre) |
|
| Yield per Acre |
|
43.3 |
|
39.6 |
|
-9% |
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| SOYBEAN
SUPPLY AND USE |
|
|
|
|
(Million
of bushels) |
|
| Beginning
stocks |
|
256 |
|
515 |
|
+102% |
|
|
|
| |
|
| Production |
3,086 |
2,928 |
-5% |
|
| Imports |
4 |
4 |
0 |
|
| Total
Supply |
3,346 |
3,446 |
+3% |
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| Crush |
|
1,720 |
|
1,750 |
|
+2% |
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| Exports |
900 |
1,090 |
+21% |
|
| Seed
and Residue |
177 |
156 |
-12% |
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| Total
Use |
2,781 |
2,996 |
+8% |
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| Ending
Stocks |
|
545 |
|
450 |
|
-17% |
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| SOYBEAN
MEAL PRODUCTION AND USE |
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|
(Million
short tons) |
|
| Beginning
Stocks |
|
0.172 |
|
0.250 |
|
+45% |
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| Production |
40.513 |
41.685 |
+3% |
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| Imports |
0.165 |
0.165 |
0 |
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| Total
Supply |
40.850 |
42,100 |
+3% |
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| Domestic
Use |
|
33,400 |
|
34,100 |
|
+2% |
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| Exports |
7,200 |
7,750 |
+8% |
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| Total
Use |
40.600 |
41.850 |
+3% |
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| Ending
Stocks |
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0.250 |
|
0.250 |
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0 |
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| Average
Price ($/short ton) |
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$175. |
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$155-185. |
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(*) Marketing Year beginning
September 1 for soybeans; October 1 for meal. |
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(**) Estimate (***) Projection |
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MEAL INFORMATION CENTER is sponsored by the Soybean Checkoff: Including
the checkoff boards from, Iowa, Kansas, Michigan, Minnesota, Nebraska,
North Dakota, South Dakota, Ohio, Kentucky and the United Soybean
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