1. 2013 Corn Market Outlook Fuels America Congressional Briefing
Washington, DC
May 30, 2013
Chad Hart
Associate Professor/Crop Markets Specialist 1 1

2. U.S. Corn Production in 2011 Source: USDA-NASS
While most of the U.S. corn production is centered in the Corn Belt, …
Source: USDA-NASS 2 2

3. U.S. Corn Planting in 2013 Top: 2013 Planted Acreage
Corn has truly become a national crop. From the seed corn planted in Hawaii to the field corn plots in Maine, corn is planted in all 50 states. And its popularity has grown. Nearly 100 million acres are devoted to corn production.
Top: 2013 Planted Acreage
Bottom: Change from 2012
Units: 1,000 acres
Source: USDA-NASS 3 3

4. Corn is Incredibly Versatile
And corn’s uses are many. From livestock feed to fuel, from sweeteners to industrial products, corn is used (and reused) for many consumer products.
Source: IowaCorn.org 4 4

5. U.S. Corn Supply and Use 2009 2010 2011 2012 2013 Area Planted
(mil. acres)
86.4
88.2
91.9
97.2
97.3
Yield
(bu./acre)
164.7
152.8
147.2
123.4
158.0
Production
(mil. bu.)
13,092
12,447
12,360
10,780
14,140
Ethanol
4,591
5,019
5,011
4,600
4,850
Captured as DDGS
1,455
1,591
1,588
1,458
1,537
Feed & Residual
5,125
4,795
4,545
4,400
5,325
Total Corn Feed Avail.
6,580
6,386
6,133
5,858
6,862
Food, Seed, & Other
1,370
1,407
1,428
1,385
1,445
Exports
1,980
1,834
1,543
750
1,300
Season-Average Price
($/bu.)
3.55
5.18
6.22
6.90
4.70
Over the past 5 years, U.S. crop farmers have attempted to raise more corn (see planted area) to meet its growing demand. While ethanol has grown to become the #1 first use of corn, roughly 30% of that corn reenters the feed market as dried distillers grains (DDGS). Thus, total corn feed availability has held around 6 billion bushels and livestock feed remains the overall #1 user of corn.
DDGS and Total Corn Feed calculations by author
Source: USDA-WAOB 5 5

6. World Corn Production Source: USDA-WAOB
Corn’s profitability and versatility have inspired other countries to produce more corn as well. South America and Eastern Europe have been the major growth areas.
Source: USDA-WAOB 6 6

7. U.S. Meat Production & Prices
As mentioned earlier, livestock feed is still the overall #1 use for corn. U.S. meat production is projected to grow over the next few years. That growth coincides with strengthening export demand for U.S. meats.
Source: USDA-WAOB 7 7

8. Corn Advance Export Sales
While corn export demand has fallen with the impact of last year’s drought, a rebound is expected. And new markets, such as China, are now opening up to U.S. corn.
Source: USDA-FAS

9. Corn Grind for Ethanol
The drought has an impact on ethanol production as well. But the outlook for larger corn supplies has recently revived corn ethanol demand.

10. Corn Prices vs. Costs
Over the last several years, corn has been a very profitable crop for U.S. farmers. That profitability has spurred more area into corn production. That trend continues today. As U.S. corn producers strive to produce enough corn to meet the world’s growing food, feed, fuel, and fiber needs.

11. Thank you for your time. Any questions. My web site: http://www. econ
Thank you for your time! Any questions? My web site: Iowa Farm Outlook: Ag Decision Maker: