FAPRI Briefing Book 1998 Tables

Commodity Price Projections
	96/97	97/98	98/99	99/00	00/01	01/02	02/03	03/04	04/05	05/06	06/07

Wheat	(U.S. Dollars per Metric Ton)
FOB U.S. Gulf	184	155	150	151	157	159	160	162	164	166	171
CIF Rotterdam	216	182	176	178	184	187	188	191	193	195	200
Canadian Thunder Bay	204	171	164	166	172	174	176	178	180	183	188
Australian Wheat Board	182	154	149	150	155	157	159	161	163	165	169

Rice
FOB U.S. Houston	469	438	418	417	418	419	420	420	420	421	423
FOB Bangkok 5% Paraboiled	338	288	300	302	305	307	308	311	313	316	320

Corn
FOB U.S. Gulf	121	113	108	107	109	111	112	115	117	119	122
CIF Rotterdam	136	127	121	120	123	125	126	129	131	134	137

Barley
FOB Pacific Northwest	151	135	128	128	131	132	133	135	136	138	141

Sorghum
FOB U.S. Gulf	111	107	105	104	106	108	110	112	115	117	120

Soybeans
FOB U.S. Gulf	289	258	233	235	235	237	239	241	245	247	251
CIF Rotterdam	302	278	254	255	256	258	259	262	265	267	272

Soybean Oil
FOB Decatur	496	564	540	543	541	539	540	542	544	547	556
FOB Rotterdam	533	602	576	579	577	575	576	577	580	584	593

Soybean Meal
FOB Decatur 44%	284	210	194	195	198	201	202	205	209	211	214
CIF Rotterdam	284	216	200	201	204	206	208	210	214	216	219

Rapeseed
CIF Hamburg	295	279	263	265	265	267	268	271	274	276	280
Cash Vancouver	324	305	286	288	288	291	292	295	298	301	305

Rapeseed Oil
FOB Rotterdam	525	573	545	548	546	545	546	547	550	554	563

Rapeseed Meal
FOB Hamburg	187	160	139	140	142	143	144	146	148	150	152

Sugar
FOB Caribbean	273	257	257	258	259	260	262	264	267	268	269
New York Spot	496	485	484	485	488	490	492	493	494	495	497

High-Fructose Corn Syrup
Chicago Wholesale	437	415	404	402	403	406	409	411	414	417	420

Cotton
Cotlook A Index	1,732	1,705	1,711	1,713	1,726	1,744	1,762	1,779	1,801	1,825	1,854
U.S. Farm	1,528	1,502	1,518	1,520	1,530	1,544	1,558	1,572	1,589	1,608	1,630

Commodity Price Projections (continued)
	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007

Beef	(U.S. Dollars per Metric Ton)
Nebraska Direct Fed-Steer	1,462	1,528	1,651	1,732	1,649	1,581	1,524	1,486	1,441	1,503	1,580
U.S. Retail	6,173	6,305	6,504	6,614	6,592	6,548	6,504	6,438	6,371	6,702	6,923
Alberta A1, A2 Steer	1,321	1,512	1,638	1,702	1,589	1,531	1,481	1,448	1,406	1,489	1,560
Australian Export (CIF U.S.)	1,881	2,348	2,583	2,714	2,645	2,488	2,354	2,265	2,177	2,152	2,199

Pork
Iowa-Southern Minnesota
Barrows and Gilts	1,140	890	968	1,028	983	936	992	1,032	981	942	1,005
U.S. Retail	5,115	4,740	4,872	4,916	4,872	4,806	4,872	4,982	4,916	4,762	4,938
Ontario Hogs Index	1,421	1,044	1,133	1,203	1,148	1,100	1,157	1,206	1,150	1,101	1,174

Chicken
U.S. 12-City Wholesale	1,296	1,218	1,213	1,218	1,205	1,211	1,231	1,239	1,248	1,242	1,251

Turkey
U.S. Wholesale	1,431	1,400	1,402	1,420	1,418	1,415	1,415	1,417	1,415	1,416	1,437

Milk	(U.S. Cents per Liter)
U.S. All Milk	30.32	30.26	29.98	29.89	29.85	29.82	29.80	29.87	29.96	30.05	30.12
Canadian Target, Industrial	39.42	40.50	41.52	42.31	43.16	44.03	44.91	45.82	46.74	47.68	48.63
Canadian Fluid Milk, Ontario	44.06	45.32	46.51	47.45	48.46	49.49	50.54	51.61	52.70	53.82	54.95
Australian Industrial Milk	18.36	18.88	19.39	19.65	19.79	19.92	20.15	20.47	20.88	21.33	21.75
Australian Fluid Milk	38.58	39.54	40.78	41.32	41.03	41.26	41.64	42.16	42.82	43.53	44.21

Cheese	(U.S. Dollars per Metric Ton)
FOB Northern Europe	2,425	2,473	2,497	2,515	2,511	2,510	2,522	2,546	2,577	2,611	2,656
U.S. Wholesale	2,919	2,927	2,902	2,904	2,902	2,896	2,892	2,903	2,915	2,927	2,936
Canadian Wholesale	5,742	5,854	6,053	6,213	6,379	6,549	6,724	6,903	7,086	7,273	7,466
Canadian Retail	8,668	8,836	9,133	9,373	9,620	9,874	10,135	10,401	10,674	10,954	11,241
Australian Export	2,773	3,011	3,034	3,052	3,048	3,047	3,060	3,084	3,114	3,149	3,194

Butter
FOB Northern Europe	1,724	1,851	1,878	1,894	1,896	1,917	1,935	1,958	1,966	1,980	2,009
U.S. Wholesale	2,355	2,206	2,172	2,082	1,978	2,016	2,016	2,042	2,061	2,077	2,088
Canadian Retail	4,619	4,734	4,786	4,809	4,838	4,867	4,896	4,925	4,954	4,984	5,013
Australian Export	1,661	1,851	1,878	1,894	1,896	1,917	1,935	1,958	1,966	1,980	2,009

Nonfat Dry Milk
FOB Northern Europe	1,740	1,628	1,759	1,815	1,865	1,899	1,950	2,015	2,114	2,214	2,285
U.S. Wholesale	2,422	2,262	2,265	2,201	2,236	2,329	2,349	2,324	2,297	2,274	2,248
Canadian Retail	6,969	7,341	7,483	7,734	7,998	8,269	8,545	8,827	9,116	9,411	9,713
Australian Export	1,850	1,628	1,759	1,815	1,865	1,899	1,950	2,015	2,114	2,214	2,285