Milling & Baking News - October 28, 2014 - 41

Ingredient Market Trends
A rebound for some major
'minor' oil crops

Weekly Spotlight

2,521*

2,211

2,447
1,538

2,450
2008

1,474

1,431

2006

1,445

1,581
1,394

in million lbs

U.S. canola production

2010

2012

Source: U.S. Department of Agriculture

2014
*estimate

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2
3
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bakingbusiness.com / world-grain.com News
41 / July 3, 2007 Milling & Baking

U

.S. producers are well on the way
to harvesting a record soybean
crop. Receiving less attention but
of tremendous importance to many food
manufacturers was the rebound in the
production of some other oil crops.
The U.S. Department of Agriculture
on Oct. 10 forecast canola production
in the United States this year at a
record 2,520,925,000 lbs. The forecast
canola crop would be 310,420,000 lbs,
or 14%, larger than the 2013 outturn of
2,210,505,000 lbs and would exceed the
previous record of 2,450,428,000 lbs in
2010 by 70,497,000 lbs, or 3%.
The U.S.D.A. commented in its
October 15 Oil Crops Outlook, "U.S.
canola production in 2014-15 is forecast
at a record 2.5 billion lbs based on nearrecord acreage (1.71 million acres) and
an above-trend yield (1,622 lbs per
acre). Canola yields for top-producing
North Dakota are expected to be the
third highest ever. In contrast, winter
canola yields in western Oklahoma
were slashed by an untimely dry
spell during the crop's March-May
flowering and reproductive period.
Thus, there was a larger moderating
influence on national production given
the expansion of Oklahoma acreage
this year."
The U.S.D.A. noted despite a bumper
canola harvest, "Near-record (2 billion
lbs) imports are still anticipated due to
recent expansion of crushing capacity.
Also favoring imports is the depreciation
of the Canadian dollar, which has lost
5% of its value against the U.S. dollar
since July."
The U.S.D.A. forecast the 2014-15
canola crush at a record 4 billion lbs.
"Prospects for record-high canola
supplies have sent cash prices tumbling
to $16@16.50 per cwt by early October
compared with $21 a year earlier," the
U.S.D.A. noted.
The U.S.D.A. forecast sunflower
production in 2014 at 2,453,770,000
lbs, up 421,045,000 lbs, or 21%, from
2,032,725,000 lbs in 2013. While
production was forecast to show an
impressive increase, the 2014 outturn
will fall far short of a record; 7.3 billion
lbs were produced in 1979. The recent

five-year average sunflower outturn was
2.5 billion lbs.
The U.S.D.A. commented, "Nearly all
of this year's production increase can be
attributed to an excellent yield, which
at 1,626 lbs per acre topped an all-time
high. Sown acreage is virtually identical
to last year, with higher non-oil-type

sunflowerseed offsetting a decrease
in oil-type acreage. Sunflowerseed
production gains may be divided almost
evenly between oil-type and non-oil
type varieties."
Because of low 2014-15 beginning
stocks, sunflowerseed supplies were
forecast to increase only 11% from the
previous year. The larger supply was
expected to edge up the sunflowerseed
crush to 1.1 billion lbs from 1.02 billion
lbs in 2013-14, the U.S.D.A. said.
The U.S.D.A. forecast cottonseed
production in 2014 at 5,369,000 tons, up
1,166,000 tons, or 28%, from 4,203,000
tons in 2013. The 2014-15 cottonseed
supply was forecast at 5,844,000 tons
(including a carry-in of 425,000 tons
and imports of 50,000 tons), up 951,000
tons, or 19%, from 4,893,000 tons in
2013-14. The cottonseed crush was
forecast at 2,400,000 tons, up 20% from
2,000,000 tons in 2013-14. Cottonseed oil
production was forecast at 770 million
lbs, up 140 million lbs, or 22%, from 630
million lbs in 2013-14. MBN
Milling &bakingbusiness.comOctober 28, 2014 / 41
Baking News  / world-grain.com
http://www.bakingbusiness.com http://www.world-grain.com
Milling & Baking News - October 28, 2014

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