CHICAGO (Dow Jones)--Higher ethanol production will support corn prices in 2007 and beyond, with demand for the alternative fuel changing domestic corn usage patterns and impacting the U.S. livestock and poultry industries, said an economist with the American Farm Bureau Federation. Terry Francl, a senior economist with the bureau, forecast a 10% increase in planted corn acres this year as continued demand from ethanol producers will support prices, according to a press release. He projected that corn prices could be driven into the $3-$5 a bushel range. Francl, who was speaking at the AFBF 88th annual meeting, said an expected increase in U.S. ethanol capacity - to nearly 10 billion gallons by 2008 from roughly 5.1 billion - will continue to tighten corn supplies as ethanol plants bid for corn. Jim Sullivan, vice president at Informa Economics, expects soybean acreage to decline to 70.4 million acres in 2007 from 75 million plus acres in 2006. Growing biodiesel demand in the U.S. and Europe along with expected Chinese purchases should help support soybean markets, he told meeting attendees, according to the release. Sullivan sees an overall net increase in 2007-08 planted wheat acreage, with winter wheat plantings up and spring wheat acres down, despite the increase in corn demand, according to the release. Wheat prices are being "pulled up" on an increase in wheat feedings due to high corn prices, Sullivan said, according to the release. Cotton farmers are banking on demand from China, Pakistan and India to boost prices currently struggling around the 50-cent per pound level, said Sharon Johnson, senior cotton analyst with First Capitol Group, who also spoke at the meeting. China is gearing up for textile production and has a "huge appetite" for quality imported cotton, Johnson said in the release.
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
32900.00 | + 1950 | 33200.00 | + 2000 |
ПФО |
32000.00 | + 1690 | 32500.00 | + 1500 |
СКФО |
33000.00 | + 1350 | 33500.00 | + 1500 |
ЮФО |
33000.00 | + 1500 | 33500.00 | + 1500 |
СФО |
33000.00 | + 1000 | 34000.00 | + 1000 |
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
74000.00 | + 1000 | 74500.00 | + 1000 |
ЮФО |
73000.00 | + 1000 | 75000.00 | + 1000 |
ПФО |
73500.00 | + 1500 | 75000.00 | + 1800 |
СФО |
74000.00 | + 500 | 76000.00 | + 1100 |
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