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2013 Crop Market Outlook. Coleman Research Group Presentation May 23, 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. U.S. Wheat Supply and Use.
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2013 Crop Market Outlook Coleman Research Group Presentation May 23, 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
U.S. Wheat Supply and Use Source: USDA-WAOB
Corn Planting Stats Source: USDA-NASS
Corn Yields Year with slow planting progress, like this year
Soybean Planting Stats Source: USDA-NASS
Soybean Yields Year with slow planting progress, like this year
World Corn Production Source: USDA-WAOB
World Soybean Production Source: USDA-WAOB
World Wheat Production Source: USDA-WAOB
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
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
U.S. Meat Production & Prices Source: USDA-WAOB
Corn Export Shifts Source: USDA-FAS
Soy Export Shifts Source: USDA-FAS
Wheat Export Shifts Source: USDA-FAS
Current Corn Futures 5.06 5.00 Source: CME Group, 5/22/2013
Current Soybean Futures 11.79 11.69 Source: CME Group, 5/22/2013
Current Wheat Futures 6.93 Source: KCBOT, 5/22/2013
Thoughts for 2012 and Beyond • Supply/demand concerns • Soil moisture issues, key for all 3 crops • Export strength/weakness, competition among feed grains • Worldwide response to drought-induced pricing
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/