1. Extension and Outreach/Department of Economics Economics of Crop Production Ag Credit School Ames, Iowa June 2, 2014 Chad Hart Associate Professor/Crop Markets Specialist chart@iastate.edu 515-294-9911

2. Extension and Outreach/Department of Economics Source: USDA-NASS Iowa Crop Shifts

3. Extension and Outreach/Department of Economics Iowa Farms and Farmland Source: USDA-Census of Ag.

4. Extension and Outreach/Department of Economics Productivity Source: USDA-ERS

5. Extension and Outreach/Department of Economics Change in Input Structure Source: USDA-ERS

6. Extension and Outreach/Department of Economics Iowa Yields Source: USDA-NASS

7. Extension and Outreach/Department of Economics Iowa Corn Costs Source: Duffy, AgDM A1-21

8. Extension and Outreach/Department of Economics Iowa Soybean Costs Source: Duffy, AgDM A1-21

9. Extension and Outreach/Department of Economics Iowa Corn Prices vs. Costs

10. Extension and Outreach/Department of Economics Iowa Soybean Prices vs. Costs

11. Extension and Outreach/Department of Economics U.S. Corn Supply and Use Source: USDA-WAOB Supply Demand

12. Extension and Outreach/Department of Economics Arable Land

13. Extension and Outreach/Department of Economics Corn Use for the Next Decade Source: USDA-ERS

14. Extension and Outreach/Department of Economics Soybean Use for the Next Decade Source: USDA-ERS

15. Extension and Outreach/Department of Economics U.S. Meat Production Source: USDA-ERS

16. Extension and Outreach/Department of Economics GDP Growth Source: USDA-ERS

17. Extension and Outreach/Department of Economics World Meat Consumption Source: USDA-PSD

18. Extension and Outreach/Department of Economics World Veg. Oil Consumption Source: USDA-PSD

19. Extension and Outreach/Department of Economics Liquid Fuel Usage 200720152020202520302035 (Million Barrels Oil Equivalent per Day)(Percent of 2007 Value) United States20.698%100%102%104%107% Canada2.396% 100%104% Mexico2.1105%110%114%129%138% Europe15.392%88% 89%90% Japan5.084%86% 84%82% China7.6132%153%178%201%222% India2.8114%129%139%154%168% Africa3.1113%116%126%135%148% Central and South America6.0110%112%117%125%133% World86.1103%107%113%121%128% Source: DOE-EIA

20. Extension and Outreach/Department of Economics U.S. Crude Oil Prices Source: USDA-ERS

21. Extension and Outreach/Department of Economics World Corn Markets Source: USDA

22. Extension and Outreach/Department of Economics Crop Prices for the Next Decade Source: USDA-ERS

23. Extension and Outreach/Department of Economics Thank you for your time! Any questions? My web site: http://www.econ.iastate.edu/~chart/ Iowa Farm Outlook: http://www.econ.iastate.edu/ifo/ Ag Decision Maker: http://www.extension.iastate.edu/agdm/