Ag Market Outlook June 21 2018 Chad Hart
- Slides: 25
Ag Market Outlook June 21, 2018 Chad Hart Associate Professor/Crop Marketing Specialist chart@iastate. edu 515 -294 -9911 Extension and Outreach/Department of Economics
U. S. Corn Supply and Use 2014 2015 2016 2017 2018 90. 6 88. 0 94. 0 90. 2 88. 0 Area Planted (mil. acres) Yield (bu. /acre) 171. 0 168. 4 174. 6 176. 6 174. 0 Production (mil. bu. ) 14, 216 13, 602 15, 148 14, 604 14, 040 Beg. Stocks (mil. bu. ) 1, 232 1, 731 1, 737 2, 293 2, 102 Imports (mil. bu. ) 32 67 57 45 50 Total Supply (mil. bu. ) 15, 479 15, 401 16, 942 16, 192 Feed & Residual (mil. bu. ) 5, 280 5, 120 5, 472 5, 500 5, 350 Ethanol (mil. bu. ) 5, 200 5, 224 5, 432 5, 575 5, 675 Food, Seed, & Other (mil. bu. ) 1, 401 1, 422 1, 451 1, 465 1, 490 Exports (mil. bu. ) 1, 867 1, 898 2, 293 2, 300 2, 100 Total Use (mil. bu. ) 13, 748 13, 664 14, 649 14, 840 14, 615 Ending Stocks (mil. bu. ) 1, 731 1, 737 2, 293 2, 102 1, 577 3. 70 3. 61 3. 36 3. 40 3. 90 Season-Average Price ($/bu. ) Source: USDA-WAOB Extension and Outreach/Department of Economics
U. S. Soybean Supply and Use 2014 2015 2016 2017 2018 Area Planted (mil. acres) 83. 3 82. 7 83. 4 90. 1 89. 0 Yield (bu. /acre) 47. 5 48. 0 52. 0 49. 1 48. 5 Production (mil. bu. ) 3, 927 3, 926 4, 296 4, 392 4, 280 Beg. Stocks (mil. bu. ) 92 191 197 302 505 Imports (mil. bu. ) 33 24 22 25 25 Total Supply (mil. bu. ) 4, 052 4, 140 4, 515 4, 718 4, 810 Crush (mil. bu. ) 1, 873 1, 886 1, 901 2, 015 2, 000 Seed & Residual (mil. bu. ) 146 122 139 133 135 Exports (mil. bu. ) 1, 842 1, 936 2, 174 2, 065 2, 290 Total Use (mil. bu. ) 3, 862 3, 944 4, 213 4, 425 Ending Stocks (mil. bu. ) 191 197 302 505 385 Season-Average Price ($/bu. ) 10. 10 8. 95 9. 47 9. 40 10. 00 Source: USDA -WAOB 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
Drought Monitor Source: National Drought Mitigation Center Extension and Outreach/Department of Economics
Extension and Outreach/Department of Economics
Extension and Outreach/Department of Economics
U. S. Meat Production & Prices Source: USDA-WAOB Extension and Outreach/Department of Economics
Pork Export Shifts Source: USDA-FAS Extension and Outreach/Department of Economics
Beef Export Shifts Source: USDA-FAS Extension and Outreach/Department of Economics
Corn Export Sales Source: USDA-FAS Extension and Outreach/Department of Economics
Corn Export Shifts Source: USDA-FAS Extension and Outreach/Department of Economics
Soybean Export Sales Source: USDA-FAS Extension and Outreach/Department of Economics
Soybean Export Shifts Source: USDA-FAS Extension and Outreach/Department of Economics
Ethanol Production Source: EIA Extension and Outreach/Department of Economics
Ethanol Exports Source: EIA Extension and Outreach/Department of Economics
Current Corn Futures 4. 03 3. 78 Source: CME Group, 6/20/2018 Extension and Outreach/Department of Economics
Current Soybean Futures 9. 12 8. 99 Source: CME Group, 6/20/2018 Extension and Outreach/Department of Economics
2017/18 Crop Margins Extension and Outreach/Department of Economics
2018/19 Crop Margins Extension and Outreach/Department of Economics
Iowa Corn Revenues vs. Costs Extension and Outreach/Department of Economics
Iowa Soybean Revenues vs. Costs Extension and Outreach/Department of Economics
Want to provide feedback on my presentation? https: //www. surveymonkey. com/r/Chad. Hart 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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