1. Crop Market Outlook Town and Country Kiwanis Ames, Iowa June 25, 2016
Chad Hart
Associate Professor/Crop Markets Specialist 1 1

2. U.S. Corn Supply and Use 2012 2013 2014 2015 2016 Area Planted
(mil. acres)
97.3
95.4
90.6
88.0
93.6
Yield
(bu./acre)
123.1
158.1
171.0
168.4
168.0
Production
(mil. bu.)
10,755
13,829
14,216
13,601
14,430
Beg. Stocks
989
821
1,232
1,731
1,708
Imports
160 36 32 60 40
Total Supply
11,904
14,686
15,479
15,392
16,178
Feed & Residual
4,315
5,040
5,324
5,250
5,550
Ethanol
4,641
5,124
5,200
5,300
Food, Seed, & Other
1,397
1,369
1,360
1,370
Exports
730
1,920
1,864
1,825
1,950
Total Use
11,083
13,454
13,748
13,685
14,170
Ending Stocks
2,008
Season-Average Price
($/bu.)
6.89
4.46
3.70
3.50
Source: USDA-WAOB 2 2

3. U.S. Soybean Supply and Use
2012
2013
2014
2015
2016
Area Planted
(mil. acres)
77.2
76.8
83.3
82.7
82.2
Yield
(bu./acre)
40.0
44.0
47.5
48.0
46.7
Production
(mil. bu.)
3,042
3,358
3,927
3,929
3,800
Beg. Stocks
169
141 92
191
370
Imports 41 72 33 30
Total Supply
3,252
3,570
4,052
4,150
4,200
Crush
1,689
1,734
1,873
1,890
1,915
Seed & Residual
105
107
145
129
125
Exports
1,317
1,638
1,843
1,760
1,900
Total Use
3,111
3,478
3,862
3,780
3,940
Ending Stocks
260
Season-Average Price
($/bu.)
14.40
13.00
10.10
9.05
9.50
Source: USDA-WAOB 3 3

4. Corn Crop Conditions Sum of Good to Excellent Ratings
Source: USDA-NASS

5. Soybean Crop Conditions
Sum of Good to Excellent Ratings
Source: USDA-NASS

6. Hog Crush Margin
The Crush Margin is the return after the pig, corn and soybean meal costs.
Carcass weight: 200 pounds Pig price: 50% of 5 mth out lean hog futures
Corn: 10 bushels per pig Soybean meal: 150 pounds per pig
Source: ISU Extension

7. 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

8. U.S. Meat Production & Prices
Source: USDA-WAOB 8 8

9. Corn Export Sales
Source: USDA-FAS

10. Soybean Export Sales
Source: USDA-FAS

11. Corn Grind for Ethanol

12. Current Corn Futures
3.74
3.71
3.69
Source: CME Group, 6/24/2016

13. Current Soybean Futures
10.15
9.04
9.18
Source: CME Group, 6/24/2016

14. 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: