Prospects for the U.S. grain and soybean crops have improved since the first USDA projections for 1999/2000 production in May. July projections for combined grain (excluding rice) and soybean production put this year’s crop at 15,958 million bushels, up 2 percent from earlier expectations and 1 percent above last year’s total. The largest expected carry-in stocks in 6 years will put 1999/2000 available grain and soybean supplies at 19,581 million bushels, up 4 percent from 1998/99 and at their highest level in more than a decade. Grain and soybean use in 1999/2000 is also projected up, at a record 15,803 million bushels, up 2 percent from 1998/99. Use is expected to increase in 1999/2000 because of stronger domestic demand for processing and milling. Wheat and soybean exports are expected to rise in 1999/2000, while corn exports are expected to match 1998/99 levels. Increases in domestic and export demand suggest increased demand for transportation over the next year. Stronger exports in recent months have already boosted demand for barge and rail transportation.
U.S. grain transportation demand has strengthened relative to year-ago levels since the beginning of calendar year 1999. Rail demand has risen modestl...
U.S. grain (excluding rice) and soybean production for 1998/99 is forecast at 16,131 million bushels, up 2 percent from 1997/98 and only 74 million bu...
U.S. grain (excluding rice) and soybean production for 1998/99 is forecast at 16,131 million bushels, up 2 percent from 1997/98 and only 74 million bu...
U.S. grain transportation demand has strengthened relative to year-ago levels since the beginning of calendar year 1999. Rail demand has risen modestl...
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