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National Chicken Council’s 57 th Annual Conference Situation & Outlook Panel October 5, 2011

National Chicken Council’s 57 th Annual Conference Situation & Outlook Panel October 5, 2011 Gerald A. Bange, Chairperson World Agricultural Outlook Board Office of the Chief Economist U.S. Department of Agriculture Washington, D.C.

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National Chicken Council’s 57 th Annual Conference Situation & Outlook Panel October 5, 2011

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  1. National Chicken Council’s 57th Annual Conference Situation & Outlook Panel October 5, 2011 Gerald A. Bange, Chairperson World Agricultural Outlook Board Office of the Chief Economist U.S. Department of Agriculture Washington, D.C.

  2. U.S. Corn Supply and Use2010 Estimate and 2011/12 Forecasts

  3. GRAIN STOCKSAS OF SEPTEMBER 1, 2011

  4. Quarterly Corn Feed & Residual Use

  5. Ethanol Producer Net Returns Above Variable Costs / Spot prices + 37 cents / gal. (9/30/11) Note: USDA-WAOB estimates based on USDA-AMS plant reports and DOE-EIA estimates and forecasts for natural gas and electricity prices.

  6. Ethanol and RBOB Nearby Futures Prices Reformulate Gasoline Blend Stock (RBOB) $0.12 Ethanol Note: Ethanol prices based on CBOT nearby futures. RBOB (Reformulated Gasoline Blend Stock) based on NYME nearby futures.

  7. U.S. Soybeans Supply and Use2010 Estimate and 2011/12 Forecasts

  8. Soybean Meal Prices 1995 - 2011 Dollars per ton

  9. U.S. Monthly Biodiesel Production

  10. U.S. Domestic Soybean Oil-based Biodiesel Production Margin

  11. Biodiesel Price Comparisons

  12. Renewable Fuel Mandates(RFS 2 -- Excluding Corn-Based)

  13. Monthly canola oil stocks Mil. Lbs.

  14. Soybean/Corn Price Ratio (March 2012 Futures) ratio 2.07 1.94

  15. World Corn Production September 12, 2011

  16. September 12, 2011

  17. Soybean Price (in Brazilian Real) $9.50/bu $13.00/bu

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