1. Associate Professor/Crop Marketing Specialist
Ag Market Outlook
June 28, 2018
Chad Hart
Associate Professor/Crop Marketing Specialist 1 1

2. Corn Prices vs. Marketings
Sources: USDA, NASS & ERS, Monthly Price Data

3. Soy Prices vs. Marketings
Sources: USDA, NASS & ERS, Monthly Price Data

4. Evaluate pricing alternatives and actions…

6. Value of Ag Trade
Source: USDA-FAS

7. U.S. Ag Exports
Source: USDA-FAS

8. Arable Land

10. July Pork Futures
Source: CME

11. Dec. Pork Futures
Source: CME

12. Nov. Soy Futures
Source: CME

13. Pork Export Shifts
Source: USDA-FAS

14. Beef Export Shifts
Source: USDA-FAS

15. Corn Export Shifts
Source: USDA-FAS

16. Soybean Export Shifts
Source: USDA-FAS

17. Ethanol Exports
Source: EIA

18. U.S. Corn Supply and Use 2014 2015 2016 2017 2018 Area Planted
(mil. acres)
90.6
88.0
94.0
90.2
Yield
(bu./acre)
171.0
168.4
174.6
176.6
174.0
Production
(mil. bu.)
14,216
13,602
15,148
14,604
14,040
Beg. Stocks
1,232
1,731
1,737
2,293
2,102
Imports 32 67 57 45 50
Total Supply
15,479
15,401
16,942
16,192
Feed & Residual
5,280
5,120
5,472
5,500
5,350
Ethanol
5,200
5,224
5,432
5,575
5,675
Food, Seed, & Other
1,401
1,422
1,451
1,465
1,490
Exports
1,867
1,898
2,300
2,100
Total Use
13,748
13,664
14,649
14,840
14,615
Ending Stocks
1,577
Season-Average Price
($/bu.)
3.70
3.61
3.36
3.40
3.90
Source: USDA-WAOB 18 18

19. U.S. Soybean Supply and Use
2014
2015
2016
2017
2018
Area Planted
(mil. acres)
83.3
82.7
83.4
90.1
89.0
Yield
(bu./acre)
47.5
48.0
52.0
49.1
48.5
Production
(mil. bu.)
3,927
3,926
4,296
4,392
4,280
Beg. Stocks 92
191
197
302
505
Imports 33 24 22 25
Total Supply
4,052
4,140
4,515
4,718
4,810
Crush
1,873
1,886
1,901
2,015
2,000
Seed & Residual
146
122
139
133
135
Exports
1,842
1,936
2,174
2,065
2,290
Total Use
3,862
3,944
4,213
4,425
Ending Stocks
385
Season-Average Price
($/bu.)
10.10
8.95
9.47
9.40
10.00
Source: USDA -WAOB 19 19

20. World Corn Production
Source: USDA-WAOB 20 20

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

22. Drought Monitor
Source: National Drought Mitigation Center 22 22

23. U.S. Meat Production & Prices
Source: USDA-WAOB 23 23

24. Ethanol Production
Source: EIA

25. Current Corn Futures
3.92
3.68
Source: CME Group, 6/28/2018

26. Current Soybean Futures
8.89
8.72
Source: CME Group, 6/28/2018

27. 2018/19 Crop Margins

28. Want to provide feedback on my presentation. https://www. surveymonkey

29. 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: