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1、EconomicResearchService
2、SituationandOutlookReportOCS-20a
3、January14,2020NextreleaseisFebruary13,2020OilCropsOutlookMarkAshSoybeanPricesSupportedbyStrengtheningSoybeanOilMarketInitsCropProduction—2019Summaryreport,USDApublishedanestimateofthe2019/20U.S.soybeancropa
4、t3.558billionbushels,up8millionfromthepreviousforecast.ThesmallproductiongainforsoybeansisbasedonanincreasefortheU.S.averageyieldby0.5bushelto47.4bushelsperacre.USDA’sforecastofU.S.soybeanexportsfor2019/20isunchangedat1.775billionbushels.Withtheforecastofdomestic
5、crushalsounchanged,season-endingsoybeanstocksarestillseenat475millionbushels.CentralIllinoissoybeanoilpricesclimbtoa3-yearhighCents/pound40353025Dec-16Apr-17Aug-17Dec-17Apr-18Aug-18Dec-18Apr-19Aug-19Dec-19Source:USDA,AgriculturalMarketingService,CentralIllinoisSo
6、ybeanProcessorBids.ApprovedbyUSDA’sWorldAgriculturalOutlookBoardDomesticOutlookSoybeanPriceGainsReflectBetterTradeClimatewithChinaThismonth,USDA’sNationalAgriculturalStatisticsServicepublisheditsCropProduction—2019Summaryreport.Thepublicationincludedanestimateoft
7、he2019/20U.S.soybeancropat3.558billionbushels,up8millionfromthepreviousforecast.ThesmallproductiongainisbasedonanincreasefortheU.S.averagesoybeanyieldby0.5bushelto47.4bushelsperacre.ImprovedyieldsforIllinois,Iowa,andIndianamorethanoffsetreductionsinKansas,Minneso
8、ta,andNorthDakota.Incontrast,U.S.harvestedacreageofsoybeansdeclinedby605,000acresfromthepreviousestimate(to75millionacres)mainlyonaccountofreductionsforSouthDakota,NorthDakota,andNebraska.ByDecember1,4percentofthesoybeanacreagewasstillunharvestedbecauseofunfavora
9、bleweatherlastfall.Thisspring,USDAwillconductaresurveyofproductioninStateswheretherewasanunusuallyhighlevelofunharvestedsoybeanacreage,particularlyMichigan,NorthDakota,andWisconsin.USDA’sGrainStocksreportedU.S.soybeanstocksonDecember1at3.252billionbushels,compare
10、dtothe3.746billionbushelsonhandayearearlier.Totalstocksdeclinedby13percentfromlastyearwhileon-farmstocksaredown21percent.Theinventorydeclineforsoybeansisduetoa
