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Crop Market Update Ag Market Update Jim Hilker Agricultural, Food, and Resource Economics Department Michigan State University August 25, 2014.

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Presentation on theme: "Crop Market Update Ag Market Update Jim Hilker Agricultural, Food, and Resource Economics Department Michigan State University August 25, 2014."— Presentation transcript:

1 Crop Market Update Ag Market Update Jim Hilker Agricultural, Food, and Resource Economics Department Michigan State University August 25, 2014

2 Monthly Corn Futures

3 8/25/14 Dec 2014 Corn Futures

4 USDA-NASS

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6 CropUnit August 2014 % Change from Previous Forecast % Change from Previous Season Corn PlantedMil Ac91.6 NC-3.9 HarvestedMil Ac83.8 NC-4.4 YieldBu/Ac ProductionBil Bu August 2014 Crop Production

7 USDA-NASS

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10 USDA-NASS

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12 U.S. Meat Production and Prices August 12, 2014

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14 U.S. Corn Supply and Demand August 12, 2014

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18 World Corn Production August 12, 2014

19 World Corn Supply and Use August 12, 2014

20 U.S. Corn Supply and Demand August 12, 2014

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25 Corn Futures 8/25/14

26 8/25/14 Dec 2014 Corn Futures

27 Dec 2014 Corn Futures

28 July 2015 Corn Futures

29 WHEAT

30 Monthly Wheat Futures

31 8/21/14 Dec 2014 Wheat Futures

32 USDA-NASS CropUnit August 2014 % Change from Previous Forecast % Change from Previous Season Winter Wheat HarvestedMil Ac32.4 NC+ <0.1 YieldBu/Ac ProductionBil Bu Other Spring HarvestedMil Ac12.4 NC+9.4 YieldBu/Ac ProductionMil Bu Durum HarvestedMil Ac1.42 NC-0.2 YieldBu/Ac ProductionMil Bu All Wheat ProductionBil Bu August 2014 Crop Production

33 USDA-NASS

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36 U.S. Wheat Supply and Demand August 12, 2014

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38 World Wheat Production August 12, 2014

39 Pcp/Temp Critical Same is true in southwestern Russia, where timely showers benefited reproductive to filling winter wheat. Data courtesy of OGIMET NWS/WMO August 12, 2014

40 Pcp/Temp Critical Little – if any – heat stress was noted in the key winter wheat Krasnodar Oblast in sw Russia August 12, 2014

41 Estimated production is increased this from 53 to 59 million tons based on an outstanding winter- wheat harvest. Yield is estimated at a record level. August 12, 2014

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43 World Wheat Supply and Use August 12, 2014

44 U.S. Wheat Supply and Demand August 12, 2014

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49 8/21/14 Dec 2014 Wheat Futures

50 Dec 2014 Wheat Futures

51 SOYBEAN OUTLOOK

52 Monthly Soybean Futures

53 Nov 2014 Soybean Futures

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55 USDA-NASS CropUnit August 2014 % Change from Previous Forecast % Change from Previous Season Soybeans PlantedMil Ac84.8 NC+10.9 HarvestedMil Ac84.1 NC+10.8 YieldBu/Ac ProductionBil Bu August 2014 Crop Production

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58 USDA-NASS

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64 December 2014 Soybean Meal Futures

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67 World Soybean Production August 12, 2014

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86 Soybean Futures 8/25/14

87 Nov 2014 Soybean Futures

88 Nov 2014 Soybean Futures 8/21/14

89 July 2015 Soybean Futures 8/21/14

90 Jim Hilker’s Web Page Thanks Questions/Discussion

91 MSU is an affirmative-action, equal-opportunity employer. Michigan State University Extension programs and materials are open to all without regard to race, color, national origin, gender, gender identity, religion, age, height, weight, disability, political beliefs, sexual orientation, marital status, family status or veteran status.


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