Crop Market Outlook
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Crop Market Outlook. Pro-Ag Meeting Altoona, Iowa Nov. 9, 2012 Chad Hart Associate Professor/Grain Markets Specialist [email protected] 515-294-9911. U.S. Corn Supply and Use. Source: USDA-WAOB. U.S. Soybean Supply and Use. Source: USDA-WAOB. Crop Conditions. Source: USDA-NASS.

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Crop Market Outlook

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Crop market outlook

Crop Market Outlook

Pro-Ag Meeting

Altoona, Iowa

Nov. 9, 2012

Chad Hart

Associate Professor/Grain Markets Specialist

[email protected]

515-294-9911


Crop market outlook

U.S. Corn Supply and Use

Source: USDA-WAOB


Crop market outlook

U.S. Soybean Supply and Use

Source: USDA-WAOB


Crop conditions

Crop Conditions

Source: USDA-NASS


Prices

Prices


Projected corn yields

Projected Corn Yields


Objective corn yield data

Objective Corn Yield Data

Source: USDA-NASS


Projected soybean yields

Projected Soybean Yields


Objective soybean yield data

Objective Soybean Yield Data

Source: USDA-NASS


Crop market outlook

World Corn Production

Source: USDA-WAOB


Crop market outlook

World Soybean Production

Source: USDA-WAOB


Crop market outlook

World Weather

Source: USDC and USDA


Crop market outlook

U.S. Meat Production & Prices

Source: USDA-WAOB


Corn export shifts

Corn Export Shifts

Source: USDA-FAS


Soy export shifts

Soy Export Shifts

Source: USDA-FAS


Corn grind for ethanol

Corn Grind for Ethanol


Crop market outlook

U.S. Blended Gasoline Consumption

7.6 bil. gal.

7.4 bil. gal.

Source: DOE-EIA, via USDA-ERS


Current corn futures

Current Corn Futures

6.87

5.98

5.62

Source: CME Group, 11/8/2012


Current soybean futures

Current Soybean Futures

14.01

12.74

12.40

Source: CME Group, 11/8/2012


Early prices for 2013 crops

Early Prices for 2013 Crops


Total acreage shift

Total Acreage Shift

Source: USDA-NASS


Acreage shift by state

Acreage Shift by State

Top: Planted in 2012

Bottom: Change from 2011

Units: 1,000 acres

Source: USDA-NASS


Acreage shift by crop

Acreage Shift by Crop

Acreage change from 2011

Units: 1,000 acres

Source: USDA-NASS


Thoughts for 2012 and beyond

Thoughts for 2012 and Beyond

  • Supply/demand concerns

    • Soil moisture issues

    • Biofuel and export strength

    • Worldwide response to drought-induced pricing


Crop market outlook

Thank you for your time!Any questions?My web site:http://www.econ.iastate.edu/~chart/Iowa Farm Outlook:http://www.econ.iastate.edu/ifo/Ag Decision Maker:http://www.extension.iastate.edu/agdm/


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