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Marketing Club Update 02/10/2011
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Marketing Club Update 02/10/2011

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Marketing Club meeting presentation with USDA February report updates.

Marketing Club meeting presentation with USDA February report updates.

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  • 1. MARKETING 2011 WEEK OF February 7, 2011
  • 2. CHEESEHEADS RULE!
  • 3. COMMODITIES RULE!!
  • 4. 22.0%20.0%
  • 5. 16.6%16.9%
  • 6. U.S. ENDING STOCKS (billion bushels) Feb. Avg High Low Jan. 2009-10Corn 0.675 0.736 0.795 0.645 0.745 1.708Soybeans 0.140 0.135 0.245 0.105 0.140 0.151Sorghum 0.037 0.036 0.041 0.031 0.037 0.041Wheat 0.818 0.810 0.889 0.751 0.818 0.976WORLD ENDING STOCKS (million metric tons) 2010-11 2009-10 Feb. Jan. Feb. Jan.Wheat 177.77 177.99 197.60 197.43Corn 122.51 127.00 145.16 147.11Soybeans 58.21 58.28 60.17 60.23WORLD PRODUCTION (million metric tons) 2010-11 2009-10 Feb. Jan. Feb. Jan.Brazil soybeans 68.5 67.5 69.0 69.0Argentine soybeans 49.5 50.5 54.5 54.5Brazil corn 51.0 51.0 56.1 56.1Argentina corn 22.0 23.5 22.8 22.8Australia wheat 25.0 25.0 21.92 21.9Argentina wheat 14.0 14.0 11.0 11.0
  • 7. USDA Wheat Balance Sheet 2009-10 Crop 2010-11 Crop Farm Futures January 12 February 9 January 12 February 9 Million AcresPlanted Acres 59.2 59.2 53.6 53.6Harvested Acres 49.9 49.9 47.6 47.6Yield (Bu. per Acre) 44.5 44.5 46.4 46.4 Million BushelsBeginning Stocks 657 657 976 976Production 2,218 2,218 2,208 2,208Imports 119 119 110 110Total Supply 2,993 2,993 3,294 3,294Feed 150 150 170 170Other Domestic 986 986 1,006 1,006Domestic Use 1,137 1,137 1,176 1,176Exports 881 881 1,300 1,300Total Use 2,018 2,018 2,476 2,476Ending Stocks 976 976 818 818Avg. Farm Price $4.87 $4.87 $5.50 - $5.80 $5.60 - $5.80
  • 8. Source:Farm Futures
  • 9. Source:Farm Futures
  • 10. Source:Farm Futures
  • 11. Source:Farm Futures
  • 12. Source:Farm Futures
  • 13. Source:Farm Futures
  • 14. Source:Farm Futures
  • 15. USDA Corn Balance Sheet Source: 2009-10 Crop 2010-11 CropFarm Futures January 12 February 9 January 12 February 9 Million AcresPlanted Acres 86.4 86.4 88.2 88.2Harvested Acres 79.5 79.5 81.4 81.4Yield (Bu. per Acre) 164.7 164.7 152.8 152.8 Million BushelsBeginning Stocks 1,673 1,673 1,708 1,708Production 13,092 13,092 12,447 12,447Imports 8 8 20 20Total Supply 14,774 14,774 14,175 14,175Feed 5,140 5,140 5,200 5,200Other Domestic 5,939 5,939 6,280 6,350 Ethanol for Fuel 4,568 4,568 4,900 4,950Total Domestic Use 11,079 11,079 11,480 11,550Exports 1,987 1,987 1,950 1,950Total Use 13,066 13,066 13,430 13,500Ending Stocks 1,708 1,708 745 675Avg. Farm Price $3.55 $3.55 $4.90 - $5.70 $5.05 - $5.75
  • 16. Source:Farm Futures
  • 17. Source:Farm Futures
  • 18. Source:Farm Futures
  • 19. Source:Farm Futures
  • 20. USDA Soybean Balance Sheet Source: 2009-10 Crop 2010-11 CropFarm Futures January 12 February 9 January 12 February 9 Million AcresPlanted Acres 77.5 77.5 77.4 77.4Harvested Acres 76.4 76.4 76.6 76.6Yield (Bu. per Acre 44.0 44.0 43.5 43.5 Million BushelsBeginning Stocks 138 138 151 151Production 3,359 3,359 3,329 3,329Imports 15 15 15 15Total Supply 3,512 3,512 3,495 3,495Crush 1,752 1,752 1,655 1,655Other Domestic 108 108 110 110Domestic Use 1,860 1,860 1,765 1,765Exports 1,501 1,501 1,590 1,590Total Use 3,361 3,361 3,355 3,355Ending Stocks 151 151 140 140Avg. Farm Price $9.59 $9.59 $11.20 - $12.20 $11.20 - $12.20
  • 21. 14.8%18.2%
  • 22. 16.4%
  • 23. Source:Farm Futures
  • 24. Source:Farm Futures
  • 25. Source:Farm Futures
  • 26. Source:Farm Futures
  • 27. http://www.cpc.ncep.noaa.gov/products/fews/global/LOOPS/gfs37.5asiaprecip.html
  • 28. 2006 78,327 75,520 6,522 3.452 4,168 31,117 13,878 1,815 12,731 2,838 1,950 60,807 2,007 6,952 37,100 ?2,000341,184

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