U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/
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Item 2019/2020 2020/2021
prev Jul 10 prev Jul 10
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SOYBEANS Million acres
Area
Planted 76.1 76.1 83.5 * 83.8 **
Harvested 75.0 75.0 82.8 * 83.0 **
Bushels
Yield per harvested
acre 47.4 47.4 49.8 * 49.8 **
Million bushels
Beginning stocks 909 909 585 620
Production 3,552 3,552 4,125 4,135
Imports 15 15 15 15
Supply, total 4,476 4,476 4,725 4,770
Crushings 2,140 2,155 2,145 2,160
Exports 1,650 1,650 2,050 2,050
Seed 97 97 100 100
Residual 4 -46 35 35
Use, total 3,891 3,857 4,330 4,345
Ending stocks 585 620 395 425
Avg farm prc ($/bu) 2/ 8.50 8.55 8.20 8.50
Million pounds
SOYBEAN OIL
Beginning stocks 1,775 1,775 1,940 2,020
Production 4/ 24,590 24,695 24,860 25,035
Imports 375 350 400 400
Supply, total 26,740 26,820 27,200 27,455
Domestic Disappearance 22,100 21,950 23,000 23,000
Biodiesel 3/ 7,400 7,400 8,000 8,000
Food,Feed & Other
Industrial 14,700 14,550 15,000 15,000
Exports 2,700 2,850 2,200 2,400
Use, total 24,800 24,800 25,200 25,400
Ending stocks 1,940 2,020 2,000 2,055
Avg farm prc (c/lb) 2/ 28.50 28.75 29.00 29.00
Thousand short tons
SOYBEAN MEAL
Beginning stocks 402 402 375 375
Production 4/ 50,323 50,623 50,525 50,975
Imports 600 600 400 400
Supply, total 51,325 51,625 51,300 51,750
Domestic 37,500 37,800 37,800 38,100
Exports 13,450 13,450 13,100 13,250
Use, total 50,950 51,250 50,900 51,350
Ending stocks 375 375 400 400
Avg farm prc ($/s.t) 2/ 295.00 300.00 290.00 300.00
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Note: Totals may not add due to rounding. Reliability calculations at end
of report. 1/ Marketing year beginning September 1 for soybeans; October 1
for soybean oil and soybean meal. 2/ Prices: soybeans marketing year
weighted average price received by farmers; oil simple average of crude
soybean oil Decatur; meal simple average of 48 percent protein Decatur.
3/ Reflects only biodiesel made from methyl ester as reported by the U.S.
Energy Information Administration. 4/ Based on an October year crush of 2
155 million bushels for 2019/20 and 2 160 million bushels for 2020/21.
*Planted acres are reported in the March 31 2020 Prospective Plantings
report. Harvested acres are based on the 5-year average harvested-to-planted
ratio. **Planted and harvested acres are from the June 30 2020 Acreage
report. The projected yield is based on a weather-adjusted trend model.
Write to Linda Rice at csstat@dowjones.com
USDA Supply/Demand : U.S. Soybeans and Products- Jul 10
July 10, 2020 at 09:47 pm IST
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