1. Agricultural Marketing
ECON 337:
Agricultural Marketing
Lee Schulz
Associate Professor
Chad Hart
Associate Professor 1

2. Soybean Export Shifts
Source: USDA-FAS

3. Soybean Meal Export Shifts
Source: USDA-FAS

4. Corn Export Shifts
Source: USDA-FAS

5. Ethanol Exports
Source: EIA

7. Global Shares
Source: USDA

9. Arable land

10. Beef Export Shifts
Source: USDA-FAS

11. Pork Export Shifts
Source: USDA-FAS

12. U.S. Meat Production & Prices
Source: USDA-WAOB 12 12

13. Corn Grind for Ethanol

14. Ethanol Stocks
Source: EIA

15. U.S. Corn Supply and Use 2015 2016 2017 2018 2019 Area Planted
(mil. acres)
88.0
94.0
90.2
89.1
92.8
Yield
(bu./acre)
168.4
174.6
176.6
176.4
176.0
Production
(mil. bu.)
13,602
15,148
14,609
14,420
15,018
Beg. Stocks
1,731
1,737
2,293
2,140
1,835
Imports 67 57 36 40
Total Supply
15,401
16,942
16,939
16,600
16,893
Feed & Residual
5,120
5,470
5,304
5,375
5,500
Ethanol
5,224
5,432
5,605
5,550
5,575
Food, Seed, & Other
1,422
1,453
1,451
1,465
Exports
1,898
2,294
2,438
2,375
2,475
Total Use
13,664
14,649
14,799
14,765
15,015
Ending Stocks
1,878
Season-Average Price
($/bu.)
3.61
3.36
3.55
3.65
Source: USDA-WAOB, adjustments for March reports 15 15

16. U.S. Soybean Supply and Use
2015
2016
2017
2018
2019
Area Planted
(mil. acres)
82.7
83.4
90.2
89.2
84.6
Yield
(bu./acre)
48.0
52.0
49.3
51.6
49.5
Production
(mil. bu.)
3,926
4,296
4,412
4,544
4,156
Beg. Stocks
191
197
302
438
900
Imports 24 22 20
Total Supply
4,140
4,515
4,735
5,002
5,076
Crush
1,886
1,901
2,055
2,100
2,105
Seed & Residual
122
146
113
127
130
Exports
1,936
2,166
2,129
1,875
2,025
Total Use
3,944
4,214
4,297
4,102
4,260
Ending Stocks
816
Season-Average Price
($/bu.)
8.95
9.47
9.33
8.60
8.80
Source: USDA-WAOB, adjustments for March reports 16 16

17. Projected Corn Acreage
Top: 2019 Acreage Estimate
Bottom: Change from last year
Units: 1,000 acres
Source: USDA-NASS 17 17

18. Projected Soybean Acreage
Top: 2019 Acreage Estimate
Bottom: Change from last year
Units: 1,000 acres
Source: USDA-NASS 18 18

19. Change in Principal Crop Acreage
Units: 1,000 acres
Source: USDA-NASS 19 19

20. Weather Outlook
Source: NOAA-CPC 20 20

21. World Corn Production
Source: USDA-WAOB 21 21

22. World Soybean Production
Source: USDA-WAOB 22 22

23. Current Corn Futures
3.83
3.49
Source: CME Group, 3/29/2019

24. Current Soybean Futures
9.07
8.60
Source: CME Group, 3/29/2019

25. 2018/19 Crop Margins
Based on futures prices

26. 2019/20 Crop Margins
Based on futures prices

27. Iowa Corn Prices vs. Costs
Based on USDA prices and ISU costs

28. Iowa Soybean Prices vs. Costs
Based on USDA prices and ISU costs

29. Class web site: