The USDA will not be releasing its scheduled the October 11th Crop Production and World Agricultural Supply-Demand Estimates (WASDE). The following slides represent our best estimates of what the USDA October 11th Soybean supply-demand balance sheets and price forecasts may have looked like, along with probability-weighted price forecast scenarios by Kansas State University Extension.
These projections represent several factors:
1) Results from the USDA Grain Stocks report released on September 30th.
2) Projected reductions in U.S. soybean planted and harvested acreage – following from USDA Farm Service Agency planted and prevented planted acreage figures released on September 17th.
3) Remaining uncertainty regarding final U.S. soybean yields
4) The historic relationships between U.S. soybean ending stocks-to-use and U.S. average prices
The full presentation will be available on the KSU AgManager website (www.AgManager.info) at the following web location: http://www.agmanager.info/events/ag_lenders/2013/Papers.asp
A. U.S. Soybean Outlook