Stable soybean planting area in the United States in 2002
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Last Update: 2002-01-23
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Source: Internet
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Author: User
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Introduction: according to the latest forecast data of sparks, the soybean planting area in 2002 in the United States is expected to be 30 million hectares, which is 40.5 million hectares higher than the recently revised planting area in 2001 Sparks lowered its forecast based on a recent USDA revision of last year's soybean acreage In 2002, the U.S soybean harvest area is estimated to be 29.6 million hectares, and the soybean output is 79.9 million tons In addition to the expected 7.48 million tons of carry over inventory, the supply at the beginning of 2002 / 03 may reach 87.4 million tons, an increase of 1.93 million tons compared with the highest supply at the beginning of the year The demand for 2002 / 03 is expected to be 81 million tons, so the carry over inventory will be 6.4 million tons The demand forecast is based on the recent soybean meal price forecast If the current price remains unchanged, the consumption may shrink and the carry over inventory will increase more than expected According to the December report of NOPA, in 2001, the crushing capacity reached 4.05 million tons, 2.8% higher than that in November, and 7.5% higher than that in the previous year Soybean oil inventory increased by 3.9% compared with November 2001 and 28.1% compared with 2000 The market's annual cumulative squeezing volume is 3.7% higher than that of the same period in 2000 In contrast, the USDA report predicts a 2% increase in crush volume in 2002.
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