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Marketing Update for 2014 and Beyond

Marketing Update for 2014 and Beyond. Integrated Crop Management Conference Ames, Iowa Dec. 5, 2013 Chad Hart Associate Professor/Crop Markets Specialist chart@iastate.edu 515-294-9911. U.S. Corn Supply and Use. Source: USDA-WAOB. U.S. Soybean Supply and Use. Source: USDA-WAOB.

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Marketing Update for 2014 and Beyond

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  1. Marketing Update for 2014 and Beyond Integrated Crop Management Conference Ames, Iowa Dec. 5, 2013 Chad Hart Associate Professor/Crop Markets Specialist chart@iastate.edu 515-294-9911

  2. U.S. Corn Supply and Use Source: USDA-WAOB

  3. U.S. Soybean Supply and Use Source: USDA-WAOB

  4. Projected Corn Yields Top: 2013 Projected Yield Bottom: Change from last month Units: Bushels/acre Source: USDA-NASS

  5. Projected Soybean Yields Top: 2013 Projected Yield Bottom: Change from last month Units: Bushels/acre Source: USDA-NASS

  6. World Corn Production Source: USDA-WAOB

  7. World Soybean Production Source: USDA-WAOB

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

  9. Corn Export Shifts Source: USDA-FAS

  10. Corn Export Sales Source: USDA-FAS

  11. Soybean Export Sales Source: USDA-FAS

  12. Soy Export Shifts Source: USDA-FAS

  13. Corn Grind for Ethanol

  14. Source: DOE-EIA, Annual Energy Outlook

  15. Current Corn Futures 4.39 4.28 4.17 Source: CME Group, 12/4/2013

  16. Current Soybean Futures 12.42 11.01 10.86 Source: CME Group, 12/4/2013

  17. Corn Prices vs. Costs Per Bushel Cost calculated as Per Acre Cost from ISU Extension divided by Actual Yield per Acre Sources: USDA-NASS for Prices, Duffy for Costs

  18. Soybean Prices vs. Costs Per Bushel Cost calculated as Per Acre Cost from ISU Extension divided by Actual Yield per Acre Sources: USDA-NASS for Prices, Duffy for Costs

  19. Crop Acreage Source: USDA-NASS

  20. Crop Shifts Source: USDA-NASS

  21. Thoughts for 2014 and Beyond • Supply/demand concerns • Corn demand rebounding? Yes, so far, so good • Acreage allocation for 2014: Where do the extra corn acres go? • Markets favoring soybeans in the short term and corn longer term

  22. World Corn Markets Source: USDA

  23. Arable Land

  24. 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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