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  • Soybeans: Background and Issues for Farm Legislation

    OCS-0701-01, August 01, 2001

    Congress is considering new farm legislation to replace the expiring Federal Agriculture Improvement and Reform Act of 1996. As background for these deliberations, this report provides information on supply, demand, and prices in the U.S. soybean sector. Domestic policy effects on U.S. exports and trade agreements are also evaluated because international trade is an important component of soybean demand. A description of the major features of the current soybean program is included, as well as a discussion of some proposed policy changes.

  • Oilseed Policies in Japan

    OCS-1102-01, December 09, 2002

    This report provides a detailed description and analysis of policies used by Japan to support its oilseed producers and processors. Domestic policies include compensation to farmers when market prices fall below specified targets and subsidized hazard insurance. The government provides strong incentives to divert land from rice into soybeans, and soybean production is growing. At the border, no tariffs are imposed on oilseeds (except for peanuts) or oilseed meals. However, significant tariffs apply to vegetable oils. These tariffs allow Japan's oilseed crushers to sell vegetable oil at prices above world trade levels. A tariff-rate quota applies to peanuts.

  • India's Edible Oil Sector: Imports Fill Rising Demand

    OCS-090301, November 07, 2003

    India is the world's leading importer of edible oils and is likely to remain an important source of global import demand for the foreseeable future. Income and population growth and key changes in trade policy are important contributors to India's increasing consumption and imports. This report evaluates policy and market factors underlying production, processing, and trade in India's edible oil sector, and the market potential for U.S. exporters.

  • How Does Structural Change in the Global Soybean Market Affect the U.S. Price?

    OCS-04D01, April 13, 2004

    South American soybean production, combined with the U.S. soybean stocks-to-use ratio, provides a strong basis for forecasting U.S. soybean prices. South American soybean production accounts for much of the global structural change that has altered the relationships among U.S. soybean production, use, stocks, and price. The article estimates that a 1-percent increase in South American soybean production decreases U.S. soybean prices by about one-quarter percent.

  • Economic and Policy Implications of Wind-Borne Entry of Asian Soybean Rust into the United States

    OCS-04D02, April 27, 2004

    American soybean producers and the research, regulatory, and extension institutions supporting them are preparing for the potential wind-borne entry of Asian soybean rust into the United States. This report examines how the economic impacts of soybean rust establishment will depend on the timing, location, spread, and severity of rust infestation and on how soybean and other crop producers, livestock producers, and consumers of agricultural commodities respond to this new pathogen.

  • Peanut Policy Change and Adjustment Under the 2002 Farm Act

    OCS-04G01, July 15, 2004

    This report examines the experience of the peanut sector following the 2002 Farm Act's elimination of the marketing quota system, and identifies factors affecting the transition to a more market-oriented system. Although peanut prices and acreage declined following passage of the 2002 Farm Act, it appears that producers are taking advantage of increased planting flexibility to expand production in higher yielding areas. Moreover, the transition has been cushioned by rising demand, and additional sources of revenue from government payments and other sources of farm and off-farm income.

  • China's Soybean Imports Expected To Grow Despite Short-Term Disruptions

    OCS-04J01, October 29, 2004

    Rapid demand growth for soybeans and soybean products has outstripped supply in China over the past two decades. Liberalization in production and trade policies has facilitated the country's booming soybean imports, though some recent policy changes have disrupted imports. Despite short-term disruptions, however, China's demand for soybean and soybean products continues to look strong and provides favorable opportunities for U.S. soybean exports.

  • Peanut Backgrounder

    OCS-05I01, October 26, 2005

    Like producers of other agricultural commodities, U.S. peanut growers in recent years have confronted pressures from market forces and the impacts of policy developments, both domestic and international. Most notably, peanut policy was transformed in 2002 by the elimination of a decades-old marketing quota system. This policy step represented a fundamental change that was accompanied by substantial adjustments in the peanut sector. While demand growth has since been robust, greater supplies and lower prices are raising government expenditures on the peanut program. Federal budget pressures and the implications of trade agreements are important current issues. This report is the first of a series of background reports on key U.S. commodities, which will provide a concise overview of important developments in major sectors of the agricultural economy.

  • Soybean Backgrounder

    OCS-200601, April 04, 2006

    This report addresses key domestic and international market and policy developments that have affected the U.S. soybean sector in recent years. It provides an analysis of the competition between crops for domestic farmland and the international supply and demand for soybean products. Also covered are domestic and trade policy, farm program costs, and a profile of operating and financial characteristics of U.S. farms producing soybeans.

  • Peanut Outlook: Impacts of the 2008-09 Foodborne Illness Outbreak Linked to Salmonella in Peanuts

    OCS-10A-01, February 01, 2010

    The 2009 foodborne illness outbreak linked to Salmonella in peanut products resulted in one of the largest food safety recalls ever in the United States. The source of the outbreak handled a small share of the U.S. peanut supply, but the scope of the recalls was magnified because the peanut products were used as ingredients in more than 3,900 products. Consumer purchases of peanut-containing products initially slowed during the recalls, but retail purchases soon returned to normal and peanut processing held steady. The recalls do not appear to have had a lasting impact on peanut demand and production.

  • Oil Crops Outlook: December 2011

    OCS-11L, December 12, 2011

    Based on higher competition and uniformly disappointing sales, USDA lowered its 2011/12 forecast of U.S. soybean exports by 25 million bushels this month to 1.3 billion.

  • Oil Crops Outlook: January 2012

    OCS-12A, January 13, 2012

    The final estimate of the 2011 U.S. soybean crop was 3.056 billion bushels based on a harvested acreage of 73.6 million acres and an average yield of 41.5 bushels per acre. USDA lowered its 2011/12 forecast of soybean exports by 25 million bushels this month to 1.275 billion while soybean crushing is forecast down 10 million bushels to 1.615 billion. Based on that lower use, season-ending soybean stocks on August 31 are expected at 275 million bushels.

  • Oil Crops Outlook: February 2012

    OCS-12B, February 10, 2012

    Despite a dimmer outlook for South American soybean production, U.S. exports for 2011/12 are expected to be unchanged at 1.275 billion bushels as an anticipated upswing in sales may only narrow a large gap with last year's pace of shipments. Domestic processing margins for soybeans have not appreciably improved, either, so the 2011/12 crush forecast did not change from 1.615 billion bushels. Without changes in forecast U.S. soybean demand, the expectation for season-ending stocks is unchanged at 275 million bushels.

  • Oil Crops Outlook: March 2012

    OCS-12C, March 12, 2012

    Based on shrinking prospects for South American crops, USDA's forecast of the 2011/12-average soybean price received by U.S. farmers fell to $11.40-$12.60 per bushel from $11.10-$12.30 last month. Similarly, USDA raised its forecast of the season-average price for soybean meal to $310-$340 per short ton from $290-$320 last month.

  • Oil Crops Outlook: April 2012

    OCS-12D, April 11, 2012

    USDA's Prospective Plantings report in March indicated that U.S. farmers intend to reduce the acreage sown to soybeans this year by 1.4 percent to 73.9 million acres as expected returns for corn were more attractive. Also, growers intend this spring to increase U.S. sunflowerseed acreage by 17 percent to 1.8 million acres, canola by 45 percent to a U.S.-record 1.56 million acres, and peanuts by 25 percent to 1.4 million acres.

  • Oil Crops Outlook: May 2012

    OCS-12E, May 17, 2012

    Using a long-term yield trend of 43.9 bushels per acre and an estimated harvested area of 73 million acres, the U.S. soybean crop for 2012 is projected up 5 percent to 3.205 billion bushels. Fast early shipments are forecast to raise U.S. soybean exports for 2012/13 to a record 1.505 billion bushels. Season-ending soybean stocks are projected at 145 million bushels-near an all-time low as a percentage of total use. Another record high could be set in 2012/13 for the U.S. soybean farm price at $12 to $14 per bushel.

  • Oil Crops Outlook: June 2012

    OCS-12F, June 13, 2012

    Export shipments of U.S. soybeans for 2011/12 are forecast up 20 million bushels this month to 1.335 billion. And the 2011/12 soybean crush is forecast 15 million bushels higher this month to 1.66 billion based on higher demand for soybean meal. Higher soybean demand would further reduce U.S. season-ending stocks for 2011/12 to 175 million bushels, compared to last month's forecast at 210 million. Despite reductions in 2012/13 use, the smaller carryover would reduce season-ending soybean stocks to 140 million bushels-a level that would cover only 16 days of use.

  • Oil Crops Outlook: July 2012

    OCS-12G, July 12, 2012

    ERS--working closely with the World Agricultural Outlook Board, the Foreign Agricultural Service, and other USDA agencies--conducts market analysis and provides short- and long-term projections of U.S. and world agricultural production, consumption, and trade.

  • Oil Crops Outlook: August 2012

    OCS-12H, August 13, 2012

    ERS -- working closely with the World Agricultural Outlook Board, the Foreign Agricultural Service, and other USDA agencies -- conducts market analysis and provides short- and long-term projections of U.S. and world agricultural production, consumption, and trade

  • Oil Crops Outlook: September 2012

    OCS-12I, September 13, 2012

    ERS--working closely with the World Agricultural Outlook Board, the Foreign Agricultural Service, and other USDA agencies--conducts market analysis and provides short- and long-term projections of U.S. and world agricultural production, consumption, and trade.