1. Associate Professor/Crop Marketing Specialist
Crop Market Outlook
Sept. 5, 2017
Chad Hart
Associate Professor/Crop Marketing Specialist 1 1

2. U.S. Corn Supply and Use 2013 2014 2015 2016 2017 Area Planted
(mil. acres)
95.4
90.6
88.0
94.0
90.9
Yield
(bu./acre)
158.1
171.0
168.4
174.6
169.5
Production
(mil. bu.)
13,829
14,216
13,602
15,148
14,153
Beg. Stocks
821
1,232
1,731
1,737
2,370
Imports 36 32 67 55 50
Total Supply
14,686
15,479
15,401
16,940
16,573
Feed & Residual
5,040
5,280
5,120
5,425
5,450
Ethanol
5,124
5,200
5,224
5,500
Food, Seed, & Other
1,369
1,401
1,422
1,470
1,500
Exports
1,920
1,867
1,898
2,225
1,850
Total Use
13,454
13,748
13,664
14,570
14,300
Ending Stocks
2,273
Season-Average Price
($/bu.)
4.46
3.70
3.61
3.35
3.30
Source: USDA-WAOB 2 2

3. U.S. Soybean Supply and Use
2013
2014
2015
2016
2017
Area Planted
(mil. acres)
76.8
83.3
82.7
83.4
89.5
Yield
(bu./acre)
44.0
47.5
48.0
52.1
49.4
Production
(mil. bu.)
3,358
3,927
3,926
4,307
4,381
Beg. Stocks
141 92
191
197
370
Imports 72 33 24 25
Total Supply
3,570
4,052
4,140
4,528
4,777
Crush
1,734
1,873
1,886
1,890
1,940
Seed & Residual
107
146
122
118
136
Exports
1,638
1,842
1,936
2,150
2,225
Total Use
3,478
3,862
3,944
4,158
4,301
Ending Stocks
475
Season-Average Price
($/bu.)
13.00
10.10
8.95
9.50
9.30
Source: USDA-WAOB 3 3

4. Projected Corn Yields Top: 2017 Yield Estimate
Bottom: Change from last year
Units: Bushels/acre
Source: USDA-NASS 4 4

5. Corn Yield Data
Source: USDA-NASS 5 5

6. Projected Soybean Yields
Top: 2017 Yield Estimate
Bottom: Change from last year
Units: Bushels/acre
Source: USDA-NASS 6 6

7. World Corn Production
Source: USDA-WAOB 7 7

8. World Soybean Production
Source: USDA-WAOB 8 8

9. U.S. Meat Production & Prices
Source: USDA-WAOB 9 9

10. U.S. Meat Trade
Million pounds
Source: USDA-WAOB 10 10

11. Corn Export Sales
Source: USDA-FAS

12. Advance Corn Export Sales
Source: USDA-FAS

13. Soybean Export Sales
Source: USDA-FAS

14. Advance Soybean Export Sales
Source: USDA-FAS

15. Corn Grind for Ethanol

16. Current Corn Futures
3.97
3.59
Source: CME Group, 9/1/2017

17. Current Soybean Futures
9.59
9.43
Source: CME Group, 9/1/2017

18. 2017/18 Crop Margins

19. Iowa Corn Prices vs. Costs

20. Iowa Soybean Prices vs. Costs

21. 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: