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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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slide1

Crop Market Outlook

Pro-Ag Meeting

Altoona, Iowa

Nov. 9, 2012

Chad Hart

Associate Professor/Grain Markets Specialist

[email protected]

515-294-9911

slide2

U.S. Corn Supply and Use

Source: USDA-WAOB

crop conditions
Crop Conditions

Source: USDA-NASS

objective corn yield data
Objective Corn Yield Data

Source: USDA-NASS

slide10

World Corn Production

Source: USDA-WAOB

slide11

World Soybean Production

Source: USDA-WAOB

slide12

World Weather

Source: USDC and USDA

corn export shifts
Corn Export Shifts

Source: USDA-FAS

soy export shifts
Soy Export Shifts

Source: USDA-FAS

slide17

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

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
slide26

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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