Chart of the Week
US Corn Prices Have Little Effect on Japanese Meat Prices
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- Category: Chart of the Week
- Published on Thursday, 09 May 2013 21:04
It's an undeniable fact that corn represents a large proportion of our foodstuffs. Everything from meat to soda to plastic contains some variety of corn products. Of course, the product that gets the most media attention is gasohol, otherwise known as ethanol. Even with the world's largest ethanol industry, the United States will over time bounce back from 2013's drought-depressed levels to remain the world's leading corn exporter. Therefore, internationally, ethanol is often made the scapegoat for the rising cost of animal production, which contributes to the rising consumer price index (CPI). But as long-time students of the matter know, the data tell a different story. Japan is the United States' largest importer of corn and this week's U.S. Grains Council Chart of the Week graphs the price of corn versus the Japanese CPI and more selectively, the "meat CPI."
US Planted Acres
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- Category: Chart of the Week
- Published on Thursday, 28 March 2013 20:54
This week's U.S. Grains Council Chart of the Week shows projected acres from the U.S. Department of Agriculture's (USDA) Prospective Plantings Report released today. The report projects increases in planted acres for corn, sorghum and wheat, with very small declines in soybean and barley acres.Using USDA's trend yield for corn and assuming 90 percent of planted acres are harvested, this amount of planted acres would produce a 363.8 million metric tons (14.323 billion bushel) corn harvest in 2013.
Will Japan be Surpassed as Global Grain Import Leader?
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- Category: Chart of the Week
- Published on Thursday, 14 March 2013 15:46
This week's U.S. Grains Council Chart of the Week shows import projections from the U.S. Department of Agriculture's Economic Research Service (USDA ERS). Developing economies are surging demand for global grains. Japan has long held the title as the world's largest coarse grain importer, led by world class infrastructure and robust corn imports. However, with a stagnant economy and aging population, recent data suggests they may not only lose the crown, but fall to third place amongst grain importers in less than ten years. As the global middle class starts to surface, consumers with more purchasing power transition from a plant starch based diet to a more animal protein based diet. Therefore, economic growth and meat consumption are directly correlated.
