1. Corn Situation & Outlook
Industry Outlook Conference
Chicago, Illinois
Oct. 19, 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
94.5
Yield
(bu./acre)
123.1
158.1
171.0
168.4
173.4
Production
(mil. bu.)
10,755
13,829
14,216
13,601
15,057
Beg. Stocks
989
821
1,232
1,731
1,738
Imports
160 36 32 67 50
Total Supply
11,904
14,686
15,479
15,400
16,845
Feed & Residual
4,315
5,040
5,324
5,192
5,650
Ethanol
4,641
5,124
5,200
5,206
5,275
Food, Seed, & Other
1,397
1,369
1,360
1,367
1,375
Exports
730
1,920
1,864
1,898
2,225
Total Use
11,083
13,454
13,748
13,662
14,525
Ending Stocks
2,320
Season-Average Price
($/bu.)
6.89
4.46
3.70
3.61
3.25
Source: USDA-WAOB, modified 2 2

3. Corn Yield Estimates Top: 2016 Yield Bottom: Change from last month
Units: Bushels/acre
Source: USDA-NASS

4. Corn Yield Data
Source: USDA-NASS

5. Corn Yield Data
Source: USDA-NASS

6. World Corn Production
Source: USDA-WAOB 6 6

7. U.S. Meat Production & Prices
Source: USDA-WAOB 7 7

8. Corn Export Sales
Source: USDA-FAS

9. Strength of the U.S. Dollar
Source: Federal Reserve

10. Corn Grind for Ethanol

11. Current Corn Futures
3.69
3.32
Source: CME Group, 10/14/2016

12. 2016/17 Crop Margins @ Trend Yields

13. 2016/17 Crop Margins @ Actual Yields

14. 2017/18 Crop Margins

15. Iowa Corn Prices vs. Costs

16. 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: