Ag Cycles Cedar Valley Bankers Meeting New Hampton
Ag Cycles Cedar Valley Bankers Meeting New Hampton, Iowa Jan. 15, 2014 Chad Hart Associate Professor/Crop Markets Specialist chart@iastate. edu 515 -294 -9911 Extension and Outreach/Department of Economics
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 Extension and Outreach/Department of Economics
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 Extension and Outreach/Department of Economics
Corn Prices and Recessions Extension and Outreach/Department of Economics
Crop Prices for the Next Decade Source: USDA-ERS Extension and Outreach/Department of Economics
Extension and Outreach/Department of Economics
Iowa Land Values Source: Mike Duffy, ISU Extension and Outreach/Department of Economics
Iowa Land Values – Log Scale Source: Mike Duffy, ISU Extension and Outreach/Department of Economics
Land Values and Income Source: Mike Duffy, ISU Extension and Outreach/Department of Economics
Land Values and Income Source: Mike Duffy, ISU Extension and Outreach/Department of Economics
Crop Acreage Source: USDA-NASS Extension and Outreach/Department of Economics
Crop Shifts Source: USDA-NASS Extension and Outreach/Department of Economics
2014/15 Crop Margins Extension and Outreach/Department of Economics
GDP Growth Source: USDA-ERS Extension and Outreach/Department of Economics
GDP Growth Source: USDA-ERS Extension and Outreach/Department of Economics
Corn Export Shifts Source: USDA-FAS Extension and Outreach/Department of Economics
Soy Export Shifts Source: USDA-FAS Extension and Outreach/Department of Economics
Iowa Crop Shifts Source: USDA-NASS Extension and Outreach/Department of Economics
Renewable Fuels Standard (RFS) Extension and Outreach/Department of Economics
Renewable Fuels Standard (RFS) Extension and Outreach/Department of Economics
Source: DOE-EIA, Annual Energy Outlook Extension and Outreach/Department of Economics
Liquid Fuel Usage 2007 (Million Barrels Oil Equivalent per Day) 2015 2020 2025 2030 2035 United States 20. 6 98% 100% 102% 104% 107% Canada 2. 3 96% 96% 100% 104% Mexico 2. 1 105% 110% 114% 129% 138% Europe 15. 3 92% 88% 89% 90% Japan 5. 0 84% 86% 84% 82% China 7. 6 132% 153% 178% 201% 222% India 2. 8 114% 129% 139% 154% 168% Africa 3. 1 113% 116% 126% 135% 148% Central and South America 6. 0 110% 112% 117% 125% 133% World 86. 1 103% 107% 113% 121% 128% (Percent of 2007 Value) Source: DOE-EIA Extension and Outreach/Department of Economics
Population 2013 2020 2050 (billion) World 7. 095 World 7. 628 World 9. 383 China 1. 350 China 1. 385 India 1. 657 India 1. 221 India 1. 326 China 1. 304 U. S. 0. 317 U. S. 0. 337 U. S. 0. 423 Indonesia 0. 251 Indonesia 0. 267 Nigeria 0. 402 Brazil 0. 201 Pakistan 0. 214 Indonesia 0. 300 Pakistan 0. 193 Brazil 0. 212 Pakistan 0. 291 Nigeria 0. 175 Nigeria 0. 208 Bangladesh 0. 250 Bangladesh 0. 164 Bangladesh 0. 183 Brazil 0. 232 Russia 0. 143 Russia 0. 142 Ethiopia 0. 228 Japan 0. 127 Japan 0. 126 Philippines 0. 172 Source: U. S. Bureau of the Census Extension and Outreach/Department of Economics
World Corn Markets Source: USDA Extension and Outreach/Department of Economics
Arable Land Extension and Outreach/Department of Economics
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/ Extension and Outreach/Department of Economics
- Slides: 26