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Associate Professor/Crop Marketing Specialist
Crop Market Outlook Sept. 5, 2017 Chad Hart Associate Professor/Crop Marketing Specialist 1 1
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U.S. Corn Supply and Use 2013 2014 2015 2016 2017 Area Planted
(mil. acres) 95.4 90.6 88.0 94.0 90.9 Yield (bu./acre) 158.1 171.0 168.4 174.6 169.5 Production (mil. bu.) 13,829 14,216 13,602 15,148 14,153 Beg. Stocks 821 1,232 1,731 1,737 2,370 Imports 36 32 67 55 50 Total Supply 14,686 15,479 15,401 16,940 16,573 Feed & Residual 5,040 5,280 5,120 5,425 5,450 Ethanol 5,124 5,200 5,224 5,500 Food, Seed, & Other 1,369 1,401 1,422 1,470 1,500 Exports 1,920 1,867 1,898 2,225 1,850 Total Use 13,454 13,748 13,664 14,570 14,300 Ending Stocks 2,273 Season-Average Price ($/bu.) 4.46 3.70 3.61 3.35 3.30 Source: USDA-WAOB 2 2
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U.S. Soybean Supply and Use
2013 2014 2015 2016 2017 Area Planted (mil. acres) 76.8 83.3 82.7 83.4 89.5 Yield (bu./acre) 44.0 47.5 48.0 52.1 49.4 Production (mil. bu.) 3,358 3,927 3,926 4,307 4,381 Beg. Stocks 141 92 191 197 370 Imports 72 33 24 25 Total Supply 3,570 4,052 4,140 4,528 4,777 Crush 1,734 1,873 1,886 1,890 1,940 Seed & Residual 107 146 122 118 136 Exports 1,638 1,842 1,936 2,150 2,225 Total Use 3,478 3,862 3,944 4,158 4,301 Ending Stocks 475 Season-Average Price ($/bu.) 13.00 10.10 8.95 9.50 9.30 Source: USDA-WAOB 3 3
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Projected Corn Yields Top: 2017 Yield Estimate
Bottom: Change from last year Units: Bushels/acre Source: USDA-NASS 4 4
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Corn Yield Data Source: USDA-NASS 5 5
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Projected Soybean Yields
Top: 2017 Yield Estimate Bottom: Change from last year Units: Bushels/acre Source: USDA-NASS 6 6
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World Corn Production Source: USDA-WAOB 7 7
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World Soybean Production
Source: USDA-WAOB 8 8
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U.S. Meat Production & Prices
Source: USDA-WAOB 9 9
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U.S. Meat Trade Million pounds Source: USDA-WAOB 10 10
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Corn Export Sales Source: USDA-FAS
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Advance Corn Export Sales
Source: USDA-FAS
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Soybean Export Sales Source: USDA-FAS
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Advance Soybean Export Sales
Source: USDA-FAS
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Corn Grind for Ethanol
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Current Corn Futures 3.97 3.59 Source: CME Group, 9/1/2017
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Current Soybean Futures
9.59 9.43 Source: CME Group, 9/1/2017
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2017/18 Crop Margins
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Iowa Corn Prices vs. Costs
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Iowa Soybean Prices vs. Costs
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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:
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