Crop Insurance Today - 12

$11.1 billion, from $11.9 billion in 2015. The value of six categories of fresh vegetables account
for more than 62 percent to the total value (bell
peppers, onions, carrots, broccoli, lettuce, and tomatoes). Production of eight selected vegetables
utilized for processing was up slightly from 2015
at 20.3 million tons. The value of the eight selected vegetables for processing previously reported
in the NASS summary was estimated from indi-

vidual reports to be down about 18 percent from
2015 to $1.8 billion. Snap beans, sweet corn, and
tomatoes account for about 82 percent of the total value of the selected processed vegetables.
Utilized citrus production for the 2015-16
season totaled 8.56 million tons, down six percent from the previous year. Continuing a downward trend from record-high production of 17.8
million tons in the 1997-98 season. Citrus for

Figure 8Figure	8.		World	Grain	&	Oilseeds	Production,	Use	&	
World Grain & Oilseeds Production, Use & Stocks
Stocks

Bil.	tons

Stks/Use

35%

3.0
2.8
2.6

30%

2.4
2.2

25%

2.0
1.8

20%

1.6
1.4

15%

1.2
1.0

10%

0.8
0.6

5%

0.4
0.2
0.0

1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
US	Stk/Use

World	Stk/Use

Production

0%

Use

Figure 9 U.S. Farm Prices for Crops & Animals, 1/2000 to 12/2016

processing, grown mostly in Florida continued to
face challenges from persistent pest and periodic
weather related impacts. Florida's orange production and grapefruit utilization was down 16 percent from 2014-15 to 81.6 million boxes and 10.8
million boxes respectively. Bearing citrus acreage
in Florida declined 23,800 from last season to
435,300 acres. California orange production, primarily for the fresh market, increased 12 percent
from 2014-15 to 54.2 million boxes. Greater emphasis on tangerines and mandarin production
in California has resulted in a 16 percent increase
in production, 21.7 million boxes in 2015-16. The
value of fresh production and processed citrus
was slightly lower than 2014-15 at $3.34 billion
(packing house door equivalent).2
[Information sources for this section include:
NOAA National Climatic Data Center, www.
ncdc.noaa.gov/ ; USDA NASS, Quick Stats available at www.nass.usda.gov/Quick_Stats/index.
php and the following annual reports: Crop Production 2016 Summary, January 2017; Vegetables 2016 Summary, February, 2107; Citrus
Fruits 2016 Summary, September 2016; U http://
farmdocdaily.illinois.edu;USDA Outlook Forum
2017, Grains and Oilseeds]

Commodity Market
Developments

Global commodity markets are expected to
see a four percent increase in ending stocks for
the 2016/17 market year. Global grain and oilseed production increased by almost six percent
following a decline in production in 2015. Total
production remained above total consumption
resulting in a continuation of a five-year trend of
increases in the volume of ending stocks. Increasing global consumption helped keep the ratio of
world use to ending stocks at 23 percent, the same
as 2015 (Figure 8).
Global wheat production continued its fouryear upward trend in 2016, up 15.8 million tons,
just over two percent, to a record high 751.3 million tons. The increase results primarily from excellent weather in Australia, leading to the largest
wheat crop in the country's history, 33 million tons.
Modest increases in wheat production were also
recorded in China, the European Union, and Brazil. However, increases in consumption fail to keep

2

The U.S. Department of Agriculture's (USDA) National
Agricultural Statistics Service (NASS) Non-citrus Fruits
and Nuts Summary 2016 Annual Summary is not
available until June 6, 2017.

12

MAY2017


http://www.ncdc.noaa.gov/ http://www.ncdc.noaa.gov/ http://www.nass.usda.gov/Quick_Stats/index http://farmdocdaily.illinois.edu http://farmdocdaily.illinois.edu

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