Grain

Corn
 Record U.S. corn yield and production is projected to increase total supply by 1.625 billion bushels to a record supply over 17
billion bushels.
 2015-16 exports finished 265 million bushels above April 2016 estimates due to unexpected South American production problems.
 2016-17 corn exports are projected above 2015. Export window is likely to close once South America harvests a trend or above trend-yield.
 Price potential in second half of the marketing year may face headwinds.

 
Soybeans
 Record U.S. soybean yield and production is projected to increase total supply by 1.625 billion bushels to a record supply over 4.58 billion bushels
 2015-16 exports finished 265 million bushels above October 2015 estimates due to unexpected South American production problems.
 2016-17 soybean exports are projected above 2015. Export window is likely to close once South America harvests a trend or above trend-yield.
 Price potential in second half of the marketing year may face headwinds.

 
Wheat
 Record U.S. wheat yield offset a 3.4 million acre reduction in harvested area. 2016 US wheat supply is projected to increase 448 million bushels from previous year.
 2016-17 wheat exports projected 200 million bushels above 2015-16 marketing year, but still 200 million bushels below 2013.
 Ending stocks have been building each year since the 2012 drought. 2016-17 ending stocks are projected at about a 184-day supply of wheat in the bins on June 1, 2017. This will limit price potential until stocks fall.

grain

 

Source: 2016-2017 Kentucky Agricultural Economic Situation and Outlook, University of Kentucky College of Agriculture, Food and Environment

Posted on December 20, 2016, in Uncategorized. Bookmark the permalink. Leave a comment.

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