1. Associate Professor/Crop Markets Specialist
Iowa Agriculture
Washington Rotary
Washington, Iowa
Mar. 17, 2016
Chad Hart
Associate Professor/Crop Markets Specialist 1 1

2. U.S. Corn Supply and Use 2012 2013 2014 2015 2016 Area Planted
(mil. acres)
97.3
95.4
90.6
88.0
90.0
Yield
(bu./acre)
123.1
158.1
171.0
168.4
168.0
Production
(mil. bu.)
10,755
13,829
14,216
13,601
13,825
Beg. Stocks
989
821
1,232
1,731
1,837
Imports
160 36 32 50 40
Total Supply
11,904
14,686
15,479
15,382
15,702
Feed & Residual
4,315
5,040
5,324
5,300
5,425
Ethanol
4,641
5,124
5,200
5,225
Food, Seed, & Other
1,397
1,369
1,360
1,370
1,375
Exports
730
1,920
1,864
1,650
1,700
Total Use
11,083
13,454
13,748
13,545
13,725
Ending Stocks
1,977
Season-Average Price
($/bu.)
6.89
4.46
3.70
3.60
3.45
Source: USDA-WAOB 2 2

3. U.S. Soybean Supply and Use
2012
2013
2014
2015
2016
Area Planted
(mil. acres)
77.2
76.8
83.3
82.7
82.5
Yield
(bu./acre)
40.0
44.0
47.5
48.0
46.7
Production
(mil. bu.)
3,042
3,358
3,927
3,929
3,810
Beg. Stocks
169
141 92
191
460
Imports 41 72 33 30
Total Supply
3,252
3,570
4,052
4,150
4,299
Crush
1,689
1,734
1,873
1,870
1,900
Seed & Residual
105
107
145
130
125
Exports
1,317
1,638
1,843
1,690
1,825
Total Use
3,111
3,478
3,862
3,690
3,850
Ending Stocks
450
Season-Average Price
($/bu.)
14.40
13.00
10.10
8.75
8.50
Source: USDA-WAOB 3 3

6. Iowa Corn Prices vs. Costs

7. Net Farm Income

8. Corn Production Costs

9. 2015 Iowa Land Values

10. 2015 Iowa Land Values - % Change

11. Iowa’s top 10 manufactured exports, 2014
1. Tractors $966 million
2. Herbicides million
3. Aircraft engines/parts 284 million
4. Aluminum alloy plates 245 million
5. Front-end loaders million
6. Special purpose vehicles 149 million
7. Harvesting machinery 144 million
8. Refrigerator-freezers 135 million
9. Misc. ag machinery 133 million
10. Excavators million
Source:

12. Iowa’s state export rankings, 2014
# 2 Soybeans $3.089 billion
# 1 Pork $2.325 billion
# 2 Corn $1.662 billion
# 2 Feeds $1.354 billion
# 2 Soybean meal $710 million
# 4 Beef $410 million
# 2 Vegetable oils $394 million
# 2 Hides $377 million
# 12 Dairy $164 million
Source: USDA Economic Research Service, “State Export Data”

13. Iowa’s Economy

14. Iowa’s Economy
Farm Machinery

15. Iowa’s Economy
Dept. of Ag.

16. Iowa’s Economy
Farm Leases

17. Iowa’s Economy
Crop Insurance

18. Iowa’s Economy

19. Arable Land

20. 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: