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Marketing Update for 2014 and Beyond. Integrated Crop Management Conference Ames, Iowa Dec. 5, 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.
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Marketing Update for 2014 and Beyond Integrated Crop Management Conference Ames, Iowa Dec. 5, 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
Projected Corn Yields Top: 2013 Projected Yield Bottom: Change from last month Units: Bushels/acre Source: USDA-NASS
Projected Soybean Yields Top: 2013 Projected Yield Bottom: Change from last month Units: Bushels/acre Source: USDA-NASS
World Corn Production Source: USDA-WAOB
World Soybean Production Source: USDA-WAOB
U.S. Meat Production & Prices Source: USDA-WAOB
Corn Export Shifts Source: USDA-FAS
Corn Export Sales Source: USDA-FAS
Soybean Export Sales Source: USDA-FAS
Soy Export Shifts Source: USDA-FAS
Current Corn Futures 4.39 4.28 4.17 Source: CME Group, 12/4/2013
Current Soybean Futures 12.42 11.01 10.86 Source: CME Group, 12/4/2013
Corn Prices vs. Costs Per Bushel Cost calculated as Per Acre Cost from ISU Extension divided by Actual Yield per Acre Sources: USDA-NASS for Prices, Duffy for Costs
Soybean Prices vs. Costs Per Bushel Cost calculated as Per Acre Cost from ISU Extension divided by Actual Yield per Acre Sources: USDA-NASS for Prices, Duffy for Costs
Crop Acreage Source: USDA-NASS
Crop Shifts Source: USDA-NASS
Thoughts for 2014 and Beyond • Supply/demand concerns • Corn demand rebounding? Yes, so far, so good • Acreage allocation for 2014: Where do the extra corn acres go? • Markets favoring soybeans in the short term and corn longer term
World Corn Markets Source: USDA
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/