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Soybean Outlook for 2010 & Beyond

Soybean Outlook for 2010 & Beyond. Mar. 9, 2010 Chad Hart Assistant Professor/Grain Markets Specialist chart@iastate.edu 515-294-9911. U.S. Soybean Supply and Use. Source: USDA. Storage Issues. Source: Hurburgh and Elmore, ICM News, 10/15/09. World Soybean Production. Source: USDA.

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Soybean Outlook for 2010 & Beyond

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  1. Soybean Outlook for 2010 & Beyond Mar. 9, 2010 Chad Hart Assistant Professor/Grain Markets Specialist chart@iastate.edu 515-294-9911

  2. U.S. Soybean Supply and Use Source: USDA

  3. Storage Issues Source: Hurburgh and Elmore, ICM News, 10/15/09

  4. World Soybean Production Source: USDA

  5. Soybeans – Argentina & Brazil Source: USDA

  6. Exchange Rates (Jan. 2003 = 1) Source: USDA, ERS

  7. Soybean Export Sales Source: USDA, FAS

  8. 2009 U.S. Soybean Exports Source: USDA, FAS

  9. Renewable Fuels Standard (RFS)

  10. Crude Oil Prices Sources: EIA, NYMEX

  11. Projected 2009 Season-Average Soy Price

  12. Soybean Futures Source: CBOT, 3/8/10

  13. Ratio: Nov. 2010 Soy/Dec. 2010 Corn Source: CBOT

  14. Input Costs Source: USDA, Agricultural Prices, Feb. 26, 2010

  15. Thoughts for 2009/10 and Beyond • General economic conditions • Projected economic recovery is a major key for crop prices • Weakness in the dollar helps exports, but dollar may fight back • Nearby crude oil prices floating in near $80 • Supply/demand concerns • Livestock numbers continue to decline • South America: Record soybean crop • 2009/10: USDA: Corn $3.70, Soy $9.45 Futures: Corn $3.54, Soy $9.37 • 2010/11: USDA: Corn $3.60, Soy $8.80 Futures: Corn $3.87, Soy $8.98

  16. Thank you for your time!Any questions?My web site:http://www.econ.iastate.edu/faculty/hart/Iowa Farm Outlook:http://www.econ.iastate.edu/outreach/agriculture/periodicals/ifo/Ag Decision Maker:http://www.extension.iastate.edu/agdm/

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