Crop Market Outlook July 1 2020 Chad Hart
- Slides: 17
Crop Market Outlook July 1, 2020 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 2016 2017 2018 2019 2020 94. 0 90. 2 88. 9 89. 7 92. 0 Area Planted (mil. acres) Yield (bu. /acre) 174. 6 176. 4 167. 4 178. 5 Production (mil. bu. ) 15, 148 14, 609 14, 340 13, 617 15, 172 Beg. Stocks (mil. bu. ) 1, 737 2, 293 2, 140 2, 221 2, 283 Imports (mil. bu. ) 57 36 28 45 25 Total Supply (mil. bu. ) 16, 942 16, 939 16, 509 15, 883 17, 480 Feed & Residual (mil. bu. ) 5, 470 5, 304 5, 432 5, 700 6, 050 Ethanol (mil. bu. ) 5, 432 5, 605 5, 376 4, 720 5, 200 Food, Seed, & Other (mil. bu. ) 1, 453 1, 451 1, 425 1, 400 Exports (mil. bu. ) 2, 294 2, 438 2, 065 1, 775 2, 150 Total Use (mil. bu. ) 14, 649 14, 799 14, 288 13, 600 14, 800 Ending Stocks (mil. bu. ) 2, 293 2, 140 2, 221 2, 283 2, 680 3. 36 3. 61 3. 60 3. 20 Season-Average Price ($/bu. ) Source: USDA-WAOB, with adjustments for June reports Extension and Outreach/Department of Economics
U. S. Soybean Supply and Use 2016 2017 2018 2019 2020 Area Planted (mil. acres) 83. 4 90. 2 89. 2 76. 1 83. 8 Yield (bu. /acre) 52. 0 49. 3 50. 6 47. 4 49. 8 Production (mil. bu. ) 4, 296 4, 412 4, 428 3, 552 4, 141 Beg. Stocks (mil. bu. ) 197 302 438 909 585 Imports (mil. bu. ) 22 22 14 15 15 Total Supply (mil. bu. ) 4, 515 4, 735 4, 880 4, 476 4, 741 Crush (mil. bu. ) 1, 901 2, 055 2, 092 2, 140 2, 145 Seed & Residual (mil. bu. ) 146 113 131 101 135 Exports (mil. bu. ) 2, 166 2, 129 1, 748 1, 650 2, 050 Total Use (mil. bu. ) 4, 214 4, 297 3, 971 3, 891 4, 330 Ending Stocks (mil. bu. ) 302 438 909 585 411 Season-Average Price ($/bu. ) 9. 47 9. 33 8. 48 8. 50 8. 20 Source: USDA-WAOB, with adjustments for June reports Extension and Outreach/Department of Economics
U. S. Corn Conditions Source: USDA-NASS Extension and Outreach/Department of Economics
U. S. Soybean Conditions Source: USDA-NASS Extension and Outreach/Department of Economics
Weather Outlook for July Source: NOAA-CPC 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
Strength of the U. S. Dollar Source: Federal Reserve 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
Corn Export Sales Source: USDA-FAS Extension and Outreach/Department of Economics
Corn Export Shifts Source: USDA-FAS Extension and Outreach/Department of Economics
2020/21 Crop Price Projections Based on futures prices Extension and Outreach/Department of Economics
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