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Overview of the Global Oilseed Markets Annual Meeting National Cottonseed Products Association Santa Fe, New Mexico May 4, 2009. John Baize. U.S. and Rest of World Gross National Product 1990 - 2008. Strong growth in U.S., but faster growth in rest of world
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Overview of the Global Oilseed MarketsAnnual MeetingNational Cottonseed Products AssociationSanta Fe, New MexicoMay 4, 2009 John Baize
U.S. and Rest of WorldGross National Product1990 - 2008 Strong growth in U.S., but faster growth in rest of world World economy grew by 65% in 18 years
World Economy Now In Recession • We now have had 3 quarters of low or negative economic growth – down 6.1% in 1sr quarter 2009 • Rapidly rising unemployment in U.S. and around the world • Major reduction in bank liquidity • Low inflation or deflation • Consumer have sharply reduced consumption, boosted savings. • Restaurants particularly are seeing reduction in sales • Meat consumption is down in US and many other countries.
Global Soymeal Consumption2000/01 – 2007/08 and Forecast for 2008/09
Global Soyoil Consumption2000/01 – 2007/08 and Forecast for 2008/09
Soybeans, Corn, Wheat, Cotton, and RicePercentage Change in Global Consumption 1990/91 – 2007/08 and Forecast for 2008/09
U.S. Soybean Oil ConsumptionOctober – March2007/08 and 2008/09 Marketing Years
U.S. Cottonseed Oil ConsumptionOctober – March2007/08 and 2008/09 Marketing Years
U.S. Soymeal ConsumptionOctober – February2007/908 and 2008/09
Global Soybean Production and Consumption2000/01 – 2007/08 and Forecast for 2008/09
Annual Growth in Global Soybean Consumption2000/01 – 2007/08 and Forecast for 2008/09
U.S. Harvested Area of Corn, Soybeans, and WheatA Big Battle For Land
U.S. Cotton Consumption and Exports2000/01 – 2007/08 and Forecast for 2008/09
U.S. Cotton Planted AreaActual 2000 – 2008 and Forecast for 2009
MississippiPlanted Area of Corn, Cotton, and Soybeans2000 - 2009
Global Cotton Production and Consumption2000/01 – 2007/08 and USDA Forecast for 2008/09
USA, Brazil, China, and IndiaAverage Cotton YieldsBt Cotton May Be Helping Other Countries More Than U.S.
Global Cotton Ending Stocks 2000/01 – 2007/08 and USDA Forecast for 2008/09
U.S. Cotton Harvested Area and Cottonseed Production2000 – 2008
U.S. Cottonseed UsageCrush and Use for Feed and Waste2000/01 – 2007/08 and USDA Forecast for 2008/09
Cottonseed OilU.S. and Global Consumption2000/01 – 2007/08 and USDA Forecast for 2008/09
U.S. Palm Oil Consumption2000/01 – 2007/08 and USDA Forecast for 2008/09
Global Soybean Ending Stocks2000/01 – 2007/08 and Forecast for 2008/09
Ending Stocks of SoybeansU.S., Argentina, and Brazil2000/01 – 2007/08 and Forecast for 2008/09
China’s Soybean Imports from All Origins2000/01 – 2006/07 and Forecast for 2007/08
U.S. Soybean Exports2000/01 –2007/08 and Forecast for 2008/09
U.S. Soybean Exports to China and Rest of World2003/04 – 2007/08 2008/09 as of April 16
U.S. Soybean Crush2000/01 – 2006/07 and Forecast for 2007/08 and 2008/09
U.S. Soybean Meal Consumption2000/01 – 2006/07 and Forecast for 2007/08 and 2008/09
U.S. Corn Use for Ethanol Production1997/98 – 2007/08 and Forecast for 2008/09 About 1/3 of corn re-enters the feed market as distillers grains (25% protein)
U.S. Soyoil Consumption2000/01 – 2007/08 and Forecast for 2008/09
Impact of Changing Crude Oil PriceOn Energy Value of Agricultural Commodities
Past and Projected Future Demand for SoybeansWorld Likely to Need Additional 70 MMT of Soybeans in 2018