1. Assistant Professor/Grain Markets Specialist
Ag Outlook
Ames Morning Rotary
Ames, Iowa
Mar. 23, 2011
Chad Hart
Assistant Professor/Grain Markets Specialist 1 1

2. Iowa’s Agricultural Rankings
1st: Corn Production
Soybean Production
Field Crop Value
Egg Production
Hog Inventory
Hog Value on Farm
Commercial Hog Slaughter
Crop Harvested Area
2nd: Pig Crop
Red Meat Production
Total Crop Value
3rd: Number of Farms
4th: Net Farm Income
Alfalfa Hay Production
Steers – 500 Lbs. & Over
5th: Oat Production
Cattle & Calves on Feed
6th: Heifers – 500 Lbs. & Over
7th: All Cattle & Calves
8th: All Hay Production
All Sheep & Lambs
10th: Land in Farms
Calf Crop
Turkeys Raised
Source: USDA-NASS

3. Supply Demand U.S. Corn Supply and Use Feed Fuel Food 2007 2008 2009
2010
Area Planted
(mil. acres)
93.5
86.0
86.4
88.2
Yield
(bu./acre)
150.7
153.9
164.7
152.8
Production
(mil. bu.)
13,038
12,092
13,092
12,447
Beg. Stocks
1,304
1,624
1,673
1,708
Imports 20 14 8
Total Supply
14,362
13,729
14,774
14,175
Feed & Residual
5,913
5,182
5,140
5,200
Ethanol
3,049
3,709
4,568
4,950
Food, Seed, & Other
1,338
1,316
1,371
1,400
Exports
2,437
1,849
1,987
1,950
Total Use
12,737
12,056
13,066
13,500
Ending Stocks
675
Season-Average Price
($/bu.)
4.20
4.06
3.55
5.40
Supply
Feed
Fuel
Food
Demand
Source: USDA 3 3

4. Iowa Crop Patterns
Source: USDA-NASS

5. Population 2010 2030 2050 (billion) World 6.852 8.249 9.256 China
2030
2050
(billion)
World
6.852
8.249
9.256
China
1.330
India
1.461
1.657
1.173
1.391
1.304
U.S.
0.310
0.374
0.439
Indonesia
0.243
0.289
0.313
Brazil
0.201
Pakistan
0.291
0.184
0.240
Ethiopia
0.278
Bangladesh
0.156
Nigeria
0.212
0.264
0.152
0.211
0.261
Russia
0.139
0.162
0.250
Source: U.S. Bureau of the Census, International Data Base

6. (Million Barrels Oil Equivalent per Day)
Liquid Fuel Usage
2007
2015
2020
2025
2030
2035
(Million Barrels Oil Equivalent per Day)
(Percent of 2007 Value)
United States
20.6
98%
100%
102%
104%
107%
Canada
2.3
96%
Mexico
2.1
105%
110%
114%
129%
138%
Europe
15.3
92%
88%
89%
90%
Japan
5.0
84%
86%
82%
China
7.6
132%
153%
178%
201%
222%
India
2.8
139%
154%
168%
Africa
3.1
113%
116%
126%
135%
148%
Central and South America
6.0
112%
117%
125%
133%
World
86.1
103%
121%
128%
Source: U.S. Dept. of Energy, Energy Information Administration

7. Bio-based Market Opportunities
Source: Informa Economics,
Biobased Multi-Client Study, March 2006

8. Biobased Pathways
Source: USDA, 2008, U.S. Biobased Products: Market Potential and Projections Through 2025

9. World Corn Markets
Source: USDA 9 9

10. Source: ISU Extension

11. Source: Cassman, U. of Neb.

12. Source: ISU Extension

13. Thank you for your time. Any questions. My web site: http://www. econ
Thank you for your time! Any questions? My web site: Iowa Farm Outlook: Ag Decision Maker: