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Prices and Economic Indicators
August 1999 Summary
Deterioration in U.S. soybean and corn yield prospects kicked off counter seasonal gains in U.S. prices for soybeans and products plus corn. Most oilseed and product prices followed the surge. However, the August farm price for soybeans at $4.25 per bushel was the lowest for that month since 1972, reflecting large U.S. stocks which are indicated to continue to expand in 99/00. The trade weighted index of vegetable oil prices rose 9 percent in August, but remained 35 percent below a year earlier. The index of prices received for all U.S. farm products was 3 percent above July reflecting across the board recovery in livestock and crop prices, but remained 3 percent below a year earlier. Percentage changes in August 1999 U.S. prices for selected commodities from a year earlier include: coconut oil +13; combined livestock and products -2; 48% soy meal -3; corn -6; soybeans -22; soybean oil -31; and palm oil -48. August, prices for selected commodities were below their respective 12-month trailing averages, except soy meal.
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1: World Oilseed & Grain--Harvested Area
Image 2:
U.S. Soybean Yield & Production
Image 3:
US Oilseed & Grain Harvested Area
Image 4:
Production: US & World Soybeans and World Soybeans
Image 5:
US Soybean Prices: Nov. Futures, 12-Mo. Av of Nov. Futures &
Nov. Futures Less Farm
Image 6:
US Feed Profitability Ratio
Image 7:
US Soybean Meal Prices
Image 8:
World Soybean Meal Use in Major Regions
Image 9:
Malaysian Rainfall Monthly
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10: Malaysia and Indonesia: Palm Oil Net Exports
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11: Malaysia Palm Oil Production: Annual Change in 12-Month
Trailing Total
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12: Oil Stocks: US Soy + Malaysian Palm
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13: US Soybean Prices at Farm vs. US Soybean Ending Stocks in
Days of Use
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14: US Soybean Oil Prices vs. US Vegetable Oil Ending Stocks in
Days...
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15: Ending Stocks: US & World Oilseeds
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16: Vegetable Oil Ending Stock Use Coverage, US & Foreign
For more information, contact the author, Alan Holz.
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