000126299 001__ 126299
000126299 005__ 20180122221638.0
000126299 037__ $$a1456-2016-120244
000126299 041__ $$aen_US
000126299 245__ $$aGrains & Oilseeds Outlook
000126299 260__ $$c2012-02
000126299 269__ $$a2012-02
000126299 300__ $$a17
000126299 336__ $$aConference Paper/ Presentation
000126299 520__ $$aThe 2012/13 outlook for grains and oilseeds is highlighted by acreage gains and prospects for a large
increase in supplies driven by favorably high net return prospects ahead of spring planting. Combined
2012 area for wheat, corn, and soybeans is projected to be record high and up 3 percent from 2011
supported by strong new-crop futures prices and a return to more normal spring and summer weather.
For wheat, increased area and a return to trend yields support higher production and carryout. Exports
are expected to remain flat year-to-year pressured by large world wheat supplies. Corn plantings, at
94 million acres, are projected to be the highest since 1944. A return to trend yields pushes corn
production to a new record allowing recoveries in feed and residual use and exports. Falling gasoline
consumption and declining ethanol exports limit expected corn use in the production of ethanol. Corn
ending stocks are projected to double, pushing cash prices sharply lower by fall harvest. Soybean
planted area is expected to match the 75 million acres planted in 2011 as relatively better expected
returns for corn keep soybean plantings from increasing. Soybean supplies are projected 8 percent
higher with higher beginning stocks and production; however, soybean ending stocks are projected to
decline with higher expected crushings and exports. Rice planted acreage is projected to expand 2
percent from flood-reduced 2011 with virtually all of the increase in long-grain in the Delta states. Total
rice use is expected 4 percent higher with increased domestic use and exports. Larger supplies of longgrain
rice expand projected exports to Western Hemisphere markets. All rice ending stocks are
projected 13 percent lower with medium- and short-grain stocks accounting for most of the reduction.
The all rice price is expected to strengthen as tighter supplies of medium-grain rice increase its expected
price. Futures and cash prices for wheat, corn, and soybeans are all expected to fall in 2012/13 as record
U.S. corn production pushes global grain supplies to a new record. Despite the expected decline, prices
remain historically high because of strong global demand for grains and oilseeds.
000126299 542__ $$fLicense granted by Elizabeth Hilber (hilb0033@umn.edu) on 2012-06-26T19:30:14Z (GMT):

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000126299 650__ $$aCrop Production/Industries
000126299 700__ $$aUSDA's Interagency Commodity Estimates Grains & Oilseeds Committees
000126299 8564_ $$s201906$$uhttp://ageconsearch.umn.edu/record/126299/files/90134R2.pdf
000126299 887__ $$ahttp://purl.umn.edu/126299
000126299 909CO $$ooai:ageconsearch.umn.edu:126299$$pGLOBAL_SET
000126299 912__ $$nSubmitted by Elizabeth Hilber (hilb0033@umn.edu) on 2012-06-26T19:35:06Z
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  Previous issue date: 2012-02
000126299 982__ $$gUnited States Department of Agricultural>Agricultural Outlook Forum 2012
000126299 980__ $$a1456