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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 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
Soybeans – Argentina & Brazil Source: USDA
Exchange Rates (Jan. 2003 = 1) Source: USDA, ERS
Soybean Export Sales Source: USDA, FAS
2009 U.S. Soybean Exports Source: USDA, FAS
Crude Oil Prices Sources: EIA, NYMEX
Soybean Futures Source: CBOT, 3/8/10
Ratio: Nov. 2010 Soy/Dec. 2010 Corn Source: CBOT
Input Costs Source: USDA, Agricultural Prices, Feb. 26, 2010
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
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/