1. Associate Professor/Crop Marketing Specialist
Ag Market Outlook
June 21, 2018
Chad Hart
Associate Professor/Crop Marketing Specialist 1 1

2. U.S. Corn Supply and Use 2014 2015 2016 2017 2018 Area Planted
(mil. acres)
90.6
88.0
94.0
90.2
Yield
(bu./acre)
171.0
168.4
174.6
176.6
174.0
Production
(mil. bu.)
14,216
13,602
15,148
14,604
14,040
Beg. Stocks
1,232
1,731
1,737
2,293
2,102
Imports 32 67 57 45 50
Total Supply
15,479
15,401
16,942
16,192
Feed & Residual
5,280
5,120
5,472
5,500
5,350
Ethanol
5,200
5,224
5,432
5,575
5,675
Food, Seed, & Other
1,401
1,422
1,451
1,465
1,490
Exports
1,867
1,898
2,300
2,100
Total Use
13,748
13,664
14,649
14,840
14,615
Ending Stocks
1,577
Season-Average Price
($/bu.)
3.70
3.61
3.36
3.40
3.90
Source: USDA-WAOB 2 2

3. U.S. Soybean Supply and Use
2014
2015
2016
2017
2018
Area Planted
(mil. acres)
83.3
82.7
83.4
90.1
89.0
Yield
(bu./acre)
47.5
48.0
52.0
49.1
48.5
Production
(mil. bu.)
3,927
3,926
4,296
4,392
4,280
Beg. Stocks 92
191
197
302
505
Imports 33 24 22 25
Total Supply
4,052
4,140
4,515
4,718
4,810
Crush
1,873
1,886
1,901
2,015
2,000
Seed & Residual
146
122
139
133
135
Exports
1,842
1,936
2,174
2,065
2,290
Total Use
3,862
3,944
4,213
4,425
Ending Stocks
385
Season-Average Price
($/bu.)
10.10
8.95
9.47
9.40
10.00
Source: USDA -WAOB 3 3

4. World Corn Production
Source: USDA-WAOB 4 4

5. World Soybean Production
Source: USDA-WAOB 5 5

6. Drought Monitor
Source: National Drought Mitigation Center 6 6

9. U.S. Meat Production & Prices
Source: USDA-WAOB 9 9

10. Pork Export Shifts
Source: USDA-FAS

11. Beef Export Shifts
Source: USDA-FAS

12. Corn Export Sales
Source: USDA-FAS

13. Corn Export Shifts
Source: USDA-FAS

14. Soybean Export Sales
Source: USDA-FAS

15. Soybean Export Shifts
Source: USDA-FAS

16. Ethanol Production
Source: EIA

17. Ethanol Exports
Source: EIA

18. Current Corn Futures
4.03
3.78
Source: CME Group, 6/20/2018

19. Current Soybean Futures
9.12
8.99
Source: CME Group, 6/20/2018

20. 2017/18 Crop Margins

21. 2018/19 Crop Margins

22. Iowa Corn Revenues vs. Costs

23. Iowa Soybean Revenues vs. Costs

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

25. 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: