1. Associate Professor/Crop Marketing Specialist
Corn Outlook
Aug. 15, 2017
Chad Hart
Associate Professor/Crop Marketing Specialist 1 1

2. 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

3. National Corn Crop Ratings
Source: USDA-NASS 3 3

4. Early Projection of Corn Yield4 4

5. Projected Corn Yields Top: 2017 Yield Estimate
Bottom: Change from last year
Units: Bushels/acre
Source: USDA-NASS 5 5

6. Corn Yield Data
Source: USDA-NASS 6 6

7. World Corn Production
Source: USDA-WAOB 7 7

8. U.S. Meat Production & Prices
Source: USDA-WAOB 8 8

9. U.S. Meat Trade
Million pounds
Source: USDA-WAOB 9 9

10. Corn Export Sales
Source: USDA-FAS

11. Advance Corn Export Sales
Source: USDA-FAS

12. Corn Grind for Ethanol

13. Current Corn Futures
4.10
3.79
Source: CME Group, 8/14/2017

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: