1. Associate Professor/Crop Marketing Specialist
Ag Market Outlook
May 20, 2019
Chad Hart
Associate Professor/Crop Marketing Specialist 1 1

2. Soybean Export Shifts
Source: USDA-FAS

3. Soybean Meal Export Shifts
Source: USDA-FAS

4. Corn Export Shifts
Source: USDA-FAS

5. Ethanol Exports
Source: EIA

7. Global Shares
Source: USDA

8. Beef Export Shifts
Source: USDA-FAS

9. Pork Export Shifts
Source: USDA-FAS

10. U.S. Meat Production & Prices
Source: USDA-WAOB 10 10

11. Corn Grind for Ethanol

12. Ethanol Stocks
Source: EIA

13. U.S. Corn Supply and Use 2015 2016 2017 2018 2019 Area Planted
(mil. acres)
88.0
94.0
90.2
89.1
92.8
Yield
(bu./acre)
168.4
174.6
176.6
176.4
176.0
Production
(mil. bu.)
13,602
15,148
14,609
14,420
15,030
Beg. Stocks
1,731
1,737
2,293
2,140
2,095
Imports 67 57 36 35
Total Supply
15,401
16,942
16,939
16,595
17,160
Feed & Residual
5,120
5,470
5,304
5,300
5,450
Ethanol
5,224
5,432
5,605
5,500
Food, Seed, & Other
1,422
1,453
1,451
1,450
Exports
1,898
2,294
2,438
2,300
2,275
Total Use
13,664
14,649
14,799
14,500
15,015
Ending Stocks
2,485
Season-Average Price
($/bu.)
3.61
3.36
3.50
3.30
Source: USDA-WAOB 13 13

14. U.S. Soybean Supply and Use
2015
2016
2017
2018
2019
Area Planted
(mil. acres)
82.7
83.4
90.2
89.2
84.6
Yield
(bu./acre)
48.0
52.0
49.3
51.6
49.5
Production
(mil. bu.)
3,926
4,296
4,412
4,544
4,150
Beg. Stocks
191
197
302
438
995
Imports 24 22 17 20
Total Supply
4,140
4,515
4,735
4,999
5,165
Crush
1,886
1,901
2,055
2,100
2,115
Seed & Residual
122
146
113
129
130
Exports
1,936
2,166
2,129
1,775
1,950
Total Use
3,944
4,214
4,297
4,004
4,195
Ending Stocks
970
Season-Average Price
($/bu.)
8.95
9.47
9.33
8.55
8.10
Source: USDA-WAOB 14 14

15. Change in Principal Crop Acreage
Units: 1,000 acres
Source: USDA-NASS 15 15

16. U.S. Corn Planting Progress
Source: USDA-NASS 16 16

17. U.S. Soybean Planting Progress
Source: USDA-NASS 17 17

18. Weather Outlook
Source: NOAA-CPC 18 18

19. World Corn Production
Source: USDA-WAOB 19 19

20. World Soybean Production
Source: USDA-WAOB 20 20

21. Current Corn Futures
3.95
3.55
Source: CME Group, 5/17/2019

22. Current Soybean Futures
8.39
8.48
Source: CME Group, 5/17/2019

23. 2018/19 Crop Margins
Based on futures prices

24. 2019/20 Crop Margins
Based on futures prices

25. Iowa Corn Prices vs. Costs
Based on USDA prices and ISU costs

26. Iowa Soybean Prices vs. Costs
Based on USDA prices and ISU costs

27. Want to provide feedback on my presentation. https://www. surveymonkey

28. 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: