2016 Crop Market Outlook North Central Iowa Crop
- Slides: 23
2016 Crop Market Outlook North Central Iowa Crop Clinic Iowa Falls, Iowa Dec. 30, 2015 Chad Hart Associate Professor/Crop Markets Specialist chart@iastate. edu 515 -294 -9911 Extension and Outreach/Department of Economics
U. S. Corn Supply and Use 2012 2013 2014 2015 Δ 97. 3 95. 4 90. 6 88. 4 0 Area Planted (mil. acres) Yield (bu. /acre) 123. 1 158. 1 171. 0 169. 3 0 Production (mil. bu. ) 10, 755 13, 829 14, 216 13, 654 0 Beg. Stocks (mil. bu. ) 989 821 1, 232 1, 731 0 Imports (mil. bu. ) 160 36 32 30 0 Total Supply (mil. bu. ) 11, 904 14, 686 15, 479 15, 415 0 Feed & Residual (mil. bu. ) 4, 315 5, 040 5, 315 5, 300 0 Ethanol (mil. bu. ) 4, 641 5, 124 5, 209 5, 200 25 Food, Seed, & Other (mil. bu. ) 1, 397 1, 369 1, 359 1, 380 0 Exports (mil. bu. ) 730 1, 920 1, 864 1, 750 -50 Total Use (mil. bu. ) 11, 083 13, 454 13, 748 13, 630 -25 Ending Stocks (mil. bu. ) 821 1, 232 1, 731 1, 785 25 6. 89 4. 46 3. 70 3. 65 0 Season-Average Price ($/bu. ) Source: USDA-WAOB Extension and Outreach/Department of Economics
U. S. Soybean Supply and Use 2012 2013 2014 2015 Δ Area Planted (mil. acres) 77. 2 76. 8 83. 3 83. 2 0 Yield (bu. /acre) 40. 0 44. 0 47. 5 48. 3 0 Production (mil. bu. ) 3, 042 3, 358 3, 927 3, 981 0 Beg. Stocks (mil. bu. ) 169 141 92 191 0 Imports (mil. bu. ) 41 72 33 30 0 Total Supply (mil. bu. ) 3, 252 3, 570 4, 052 4, 203 0 Crush (mil. bu. ) 1, 689 1, 734 1, 873 1, 890 0 Seed & Residual (mil. bu. ) 105 107 145 133 0 Exports (mil. bu. ) 1, 317 1, 638 1, 843 1, 715 0 Total Use (mil. bu. ) 3, 111 3, 478 3, 861 3, 738 0 Ending Stocks (mil. bu. ) 141 92 191 465 0 Season-Average Price ($/bu. ) 14. 40 13. 00 10. 10 8. 90 0 Source: USDA-WAOB Extension and Outreach/Department of Economics
Corn Yield Estimate Top: 2015 Estimated Yields Bottom: Change from last month Units: Bushels/acre Source: USDA-NASS Extension and Outreach/Department of Economics
Soybean Yield Estimate Top: 2015 Estimated Yields Bottom: Change from last month Units: Bushels/acre Source: USDA-NASS Extension and Outreach/Department of Economics
World Corn Production Source: USDA-WAOB Extension and Outreach/Department of Economics
World Soybean Production Source: USDA-WAOB Extension and Outreach/Department of Economics
Hog Crush Margin The Crush Margin is the return after the pig, corn and soybean meal costs. Carcass weight: 200 pounds Pig price: 50% of 5 mth out lean hog futures Corn: 10 bushels per pig Soybean meal: 150 pounds per pig Source: ISU Extension and Outreach/Department of Economics
Cattle Crush Margin The Crush Margin is the return after the feeder steer and corn costs. Live weight: 1250 pounds Feeder weight: 750 pounds Corn: 50 bushels per head Source: ISU Extension and Outreach/Department of Economics
U. S. Meat Production & Prices Source: USDA-WAOB Extension and Outreach/Department of Economics
Corn Export Sales Source: USDA-FAS Extension and Outreach/Department of Economics
Soybean Export Sales Source: USDA-FAS Extension and Outreach/Department of Economics
Strength of the U. S. Dollar Source: Federal Reserve Extension and Outreach/Department of Economics
Crude Oil Prices Sources: EIA and CME Extension and Outreach/Department of Economics
Corn Grind for Ethanol Extension and Outreach/Department of Economics
Ethanol Stocks Source: EIA Extension and Outreach/Department of Economics
Current Corn Futures 3. 83 3. 66 3. 52 Source: CME Group, 12/29/2015 Extension and Outreach/Department of Economics
Current Soybean Futures 8. 50 8. 43 8. 48 Source: CME Group, 12/29/2015 Extension and Outreach/Department of Economics
2015/16 Crop Margins Extension and Outreach/Department of Economics
2016/17 Crop Margins Extension and Outreach/Department of Economics
Iowa Corn Prices vs. Costs Extension and Outreach/Department of Economics
Iowa Soybean Prices vs. Costs Extension and Outreach/Department of Economics
Thank you for your time! Any questions? My web site: http: //www 2. econ. iastate. edu/faculty/hart/ Iowa Farm Outlook: http: //www 2. econ. iastate. edu/ifo/ Ag Decision Maker: http: //www. extension. iastate. edu/agdm/ Extension and Outreach/Department of Economics
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