1. Associate Professor/Crop Marketing Specialist
Ag Trade
July 12, 2018
Chad Hart
Associate Professor/Crop Marketing Specialist 1 1

2. Source: USDA-FAS

3. Source: USDA-FAS

4. Source: USDA-FAS

5. Source: USDA-FAS

6. Source: USDA-FAS

7. U.S. Corn Supply and Use 2014 2015 2016 2017 2018 Area Planted
(mil. acres)
90.6
88.0
94.0
90.2
89.1
Yield
(bu./acre)
171.0
168.4
174.6
176.6
174.0
Production
(mil. bu.)
14,216
13,602
15,148
14,604
14,230
Beg. Stocks
1,232
1,731
1,737
2,293
2,027
Imports 32 67 57 40 50
Total Supply
15,479
15,401
16,942
16,937
16,307
Feed & Residual
5,280
5,120
5,470
5,450
5,425
Ethanol
5,200
5,224
5,432
5,600
5,625
Food, Seed, & Other
1,401
1,422
1,453
1,460
1,480
Exports
1,867
1,898
2,294
2,400
2,225
Total Use
13,748
13,664
14,649
14,910
14,755
Ending Stocks
1,552
Season-Average Price
($/bu.)
3.70
3.61
3.36
3.40
3.80
Source: USDA-WAOB 7 7

8. U.S. Soybean Supply and Use
2014
2015
2016
2017
2018
Area Planted
(mil. acres)
83.3
82.7
83.4
90.1
89.6
Yield
(bu./acre)
47.5
48.0
52.0
49.1
48.5
Production
(mil. bu.)
3,927
3,926
4,296
4,392
4,310
Beg. Stocks 92
191
197
302
465
Imports 33 24 22 25
Total Supply
4,052
4,140
4,515
4,715
4,800
Crush
1,873
1,886
1,901
2,030
2,045
Seed & Residual
146
122
136
135
Exports
1,842
1,936
2,166
2,085
2,040
Total Use
3,862
3,944
4,214
4,251
4,220
Ending Stocks
580
Season-Average Price
($/bu.)
10.10
8.95
9.47
9.35
9.25
Source: USDA-WAOB 8 8

9. Soybean Export Sales
Source: USDA-FAS

10. Corn Export Shifts
Source: USDA-FAS

11. Soybean Export Shifts
Source: USDA-FAS

12. U.S. Meat Production & Prices
Source: USDA-WAOB 12 12

13. U.S. Meat Trade
Source: USDA-WAOB 13 13

14. Pork Export Shifts
Source: USDA-FAS

15. Beef Export Shifts
Source: USDA-FAS

16. Value of Ag Trade
Source: USDA-FAS

17. U.S. Ag Exports
Source: USDA-FAS

18. Iowa’s state export rankings, 2016
# 2 Soybeans $3.113 billion
# 1 Pork $1.999 billion
# 1 Corn $1.747 billion
# 1 Feeds $1.321 billion
# 2 Soybean meal $557 million
# 2 Vegetable oils $390 million
# 4 Beef $384 million
# 2 Hides $237 million
# 12 Dairy $113 million
Source: USDA Economic Research Service, “State Export Data”

19. Iowa’s top 10 manufactured exports, 2016
1. Tractors $633 million
2. Herbicides million
3. Aircraft engines/parts 262 million
4. Aluminum alloy plates 209 million
5. Nucleic acids and salts 164 million
6. Special purpose vehicles 157 million
7. Track-laying tractors million
8. Front-end shovel loaders 116 million
9. Medical instruments million
10. Refrigerating equipment 101 million
Source:

20. World Corn Markets
Source: USDA 20 20

21. Arable Land

22. Thank you for your time. Any questions. My web site: http://www2. econ
Thank you for your time! Any questions? My web site: Iowa Farm Outlook: Ag Decision Maker: