| Soybean Futures are traded on the
Chicago Board of Trade. Soybeans are grown primarily for beans, which are harvested
into oil and meal. Soybeans are primarily grown in the Corn-Belt states and the lower
Mississippi Valley. The three top producing states on average are Iowa, Illinois, and
Minnesota.
Soybeans are processed, "crushed", into meal and oil. Soybean Meal
is used primarily as an animal feed, while soybean oil is found in a plethora of foods we
eat and also has a host of industrial uses, with the most common food uses being edible
oils- margarine, salad dressing, etc. Typically, each bushel of Soybeans produces 11
pounds of Soybean Oil and 48 pounds of Soybean Meal.
Planted area to Soybeans has increased rapidly from the second world war until 1979,
when a record 71.4 million acres were planted. Acreage declined in the 1980's, but has
rebounded in the 1990's. The 1997 yield of 39 bushels per acre is the second highest yield
on record, versus the highest yield of 41.4 bushel per acre, set in 1994.
Major World Producers and Consumers for 1998/99 Crop Year in million metric tons
|
Beginning |
|
|
Domestic |
Total |
|
Ending |
|
Stocks |
Production |
Imports |
Crush |
Use |
Exports |
Stocks |
|
1998/99 (projected in million metric tons) |
| World |
20.8 |
157.75 |
38.51 |
129.6 |
152.28 |
38.53 |
26.25 |
| United States |
5.44 |
75.03 |
0.16 |
42.46 |
47.97 |
20.96 |
11.7 |
| Total foreign |
15.36 |
82.73 |
38.35 |
87.14 |
104.31 |
17.57 |
14.55 |
| Major exporters |
13 |
53 |
1.9 |
37.7 |
40.3 |
15.4 |
12.2 |
| Argentina |
7.05 |
18.7 |
0.9 |
15.8 |
16.57 |
3.3 |
6.78 |
| Brazil |
5.95 |
31 |
1 |
21.3 |
23.03 |
9.5 |
5.42 |
| Major importers |
1.68 |
17.51 |
29.05 |
34.21 |
45.86 |
0.7 |
1.68 |
| EU-15 |
0.82 |
1.74 |
15.62 |
15.52 |
16.77 |
0.52 |
0.89 |
| Japan |
0.63 |
0.16 |
4.6 |
3.54 |
4.84 |
0 |
0.55 |
| China |
0 |
13.8 |
3.45 |
10.3 |
17.07 |
0.18 |
0 |
- all data gathered from the World Agricultural
Outlook Board (WASDE #349)
Usual Planting and Harvest Dates for US Soybeans
Usual Planting Dates for Soybeans
(Top 5 producing States)
|
Planting |
Harvest |
| State |
Begin |
Most Active |
End |
Begin |
Most Active |
End |
| Illinois |
May 6 |
May 15 - Jun 9 |
Jun 16 |
Sep 23 |
Oct 1 - Oct 19 |
Nov 3 |
| Iowa |
May 4 |
May 14 - Jun 2 |
Jun 17 |
Sep 21 |
Oct 1 - Oct 15 |
Oct 27 |
| Minnesota |
May 6 |
May 16 - Jun 3 |
Jun 23 |
Sep 25 |
Oct 4 - Oct 21 |
Oct 30 |
| Indiana |
May 5 |
May 15 - Jun 5 |
Jun 20 |
Sep 25 |
Sep 30 - Oct 25 |
Nov 5 |
| Ohio |
May 5 |
May 10 - Jun 7 |
Jun 23 |
Sep 21 |
Oct 1 - Oct 22 |
Nov 10 |
Dates based on the December 1997 USDA Agricultural Statistics Board
Usual Planting and Harvesting Dates report
Crop Progress
- Planted - Sowing grain or percent planted
- Emerged - As soon as the plants are visible.
- Blooming - A plant should be considered as blooming as soon as
one bloom appears.
- Setting Pods - Pods are developing on the lower nodes with some
blooming still occurring on the upper nodes.
- Dropping Leaves - Leaves near the bottom of the plant are yellow
and dropping, while leaves at the very top may still be green. Leaves are 30-50 percent
yellow.
- Harvested - Reaping grain or percent harvested
Price Prospective- CBOT Soybean Continuos contract monthly data
soybean futures prices
Seasonal Prospective
complete seasonal anlysis
Note: 1.0 represents the seasonal high, while 0.0
represents the seasonal low. Based on CBOT November Soybean futures settlement prices from
1979 to 1998.
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