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Associate Professor/Crop Marketing Specialist
Ag Market Outlook Mar. 15, 2018 Chad Hart Associate Professor/Crop Marketing Specialist 1 1
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Drought Monitor Source: National Drought Mitigation Center 2 2
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U.S. Meat Production & Prices
Source: USDA-WAOB 4 4
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Data Source: USDA-NASS, Compiled & Forecasts by LMIC
Livestock Marketing Information Center
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Data Source: USDA-NASS, Compiled & Analysis by LMIC
Livestock Marketing Information Center
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Data Source: USDA-NASS
Livestock Marketing Information Center
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Source: USDA/AMS
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Cattle Crush Margin The Crush Margin is the return after the feeder steer and corn costs. Live weight: pounds Feeder weight: 750 pounds Corn: 50 bushels per head Source: ISU Extension
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Source: USDA/AMS
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Beef Export Shifts Source: USDA-FAS
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Pork Export Shifts Source: USDA-FAS
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Corn Export Shifts Source: USDA-FAS
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Soybean Export Shifts Source: USDA-FAS
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U.S. Corn Supply and Use 2014 2015 2016 2017 2018 Area Planted
(mil. acres) 90.6 88.0 94.0 90.2 90.0 Yield (bu./acre) 171.0 168.4 174.6 176.6 174.0 Production (mil. bu.) 14,216 13,602 15,148 14,604 14,390 Beg. Stocks 1,232 1,731 1,737 2,293 2,127 Imports 32 67 57 50 Total Supply 15,479 15,401 16,942 16,947 16,567 Feed & Residual 5,280 5,120 5,473 5,550 5,475 Ethanol 5,200 5,224 5,432 5,575 5,650 Food, Seed, & Other 1,401 1,422 1,450 1,470 1,495 Exports 1,867 1,898 2,225 1,900 Total Use 13,748 13,664 14,649 14,820 14,520 Ending Stocks 2,047 Season-Average Price ($/bu.) 3.70 3.61 3.36 3.35 3.40 Source: USDA 16 16
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U.S. Soybean Supply and Use
2014 2015 2016 2017 2018 Area Planted (mil. acres) 83.3 82.7 83.4 90.1 90.0 Yield (bu./acre) 47.5 48.0 52.0 49.1 48.5 Production (mil. bu.) 3,927 3,926 4,296 4,392 4,320 Beg. Stocks 92 191 197 302 555 Imports 33 24 22 25 Total Supply 4,052 4,140 4,515 4,718 4,900 Crush 1,873 1,886 1,901 1,960 1,980 Seed & Residual 146 122 139 138 135 Exports 1,842 1,936 2,174 2,065 2,300 Total Use 3,862 3,944 4,213 4,163 4,415 Ending Stocks 485 Season-Average Price ($/bu.) 10.10 8.95 9.47 9.30 9.25 Source: USDA 17 17
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World Corn Production Source: USDA-WAOB 18 18
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World Soybean Production
Source: USDA-WAOB 19 19
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Corn Export Sales Source: USDA-FAS
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Soybean Export Sales Source: USDA-FAS
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Ethanol Exports Source: EIA
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Current Corn Futures 4.13 4.06 3.56 Source: CME Group, 3/15/2018
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Current Soybean Futures
10.13 9.84 9.56 Source: CME Group, 3/15/2018
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2018/19 Crop Margins
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Thank you for your time. Any questions. My web site: http://www2. econ
Thank you for your time! Any questions? My web site: Iowa Farm Outlook: Ag Decision Maker:
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