Crop Market Update Ag Market Update Jim Hilker Agricultural, Food, and Resource Economics Department Michigan State University August 25, 2014

Monthly Corn Futures

8/25/14 Dec 2014 Corn Futures

USDA-NASS

CropUnit August 2014 % Change from Previous Forecast % Change from Previous Season Corn PlantedMil Ac91.6 NC-3.9 HarvestedMil Ac83.8 NC-4.4 YieldBu/Ac ProductionBil Bu August 2014 Crop Production

USDA-NASS

USDA-NASS

U.S. Meat Production and Prices August 12, 2014

U.S. Corn Supply and Demand August 12, 2014

World Corn Production August 12, 2014

World Corn Supply and Use August 12, 2014

U.S. Corn Supply and Demand August 12, 2014

Corn Futures 8/25/14

8/25/14 Dec 2014 Corn Futures

Dec 2014 Corn Futures

July 2015 Corn Futures

WHEAT

Monthly Wheat Futures

8/21/14 Dec 2014 Wheat Futures

USDA-NASS CropUnit August 2014 % Change from Previous Forecast % Change from Previous Season Winter Wheat HarvestedMil Ac32.4 NC+ <0.1 YieldBu/Ac ProductionBil Bu Other Spring HarvestedMil Ac12.4 NC+9.4 YieldBu/Ac ProductionMil Bu Durum HarvestedMil Ac1.42 NC-0.2 YieldBu/Ac ProductionMil Bu All Wheat ProductionBil Bu August 2014 Crop Production

USDA-NASS

U.S. Wheat Supply and Demand August 12, 2014

World Wheat Production August 12, 2014

Pcp/Temp Critical Same is true in southwestern Russia, where timely showers benefited reproductive to filling winter wheat. Data courtesy of OGIMET NWS/WMO August 12, 2014

Pcp/Temp Critical Little – if any – heat stress was noted in the key winter wheat Krasnodar Oblast in sw Russia August 12, 2014

Estimated production is increased this from 53 to 59 million tons based on an outstanding winter- wheat harvest. Yield is estimated at a record level. August 12, 2014

World Wheat Supply and Use August 12, 2014

U.S. Wheat Supply and Demand August 12, 2014

8/21/14 Dec 2014 Wheat Futures

Dec 2014 Wheat Futures

SOYBEAN OUTLOOK

Monthly Soybean Futures

Nov 2014 Soybean Futures

USDA-NASS CropUnit August 2014 % Change from Previous Forecast % Change from Previous Season Soybeans PlantedMil Ac84.8 NC+10.9 HarvestedMil Ac84.1 NC+10.8 YieldBu/Ac ProductionBil Bu August 2014 Crop Production

USDA-NASS

December 2014 Soybean Meal Futures

World Soybean Production August 12, 2014

Soybean Futures 8/25/14

Nov 2014 Soybean Futures

Nov 2014 Soybean Futures 8/21/14

July 2015 Soybean Futures 8/21/14

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