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Corn & Soybean Outlook

Get insights into the current and future market trends for corn and soybeans. Discover the impact of economic conditions, harvest progress, and crop production on prices. Explore the influence of exports, input costs, and renewable fuels standards. Stay informed with valuable statistics and projections for the agricultural industry.

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Corn & Soybean Outlook

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  1. Corn & Soybean Outlook Iowa Seed Association 107th Annual Convention Ames, Iowa November 11, 2009 Chad Hart Assistant Professor/Grain Markets Specialist chart@iastate.edu 515-294-9911

  2. U.S. Corn Supply and Use Source: USDA

  3. U.S. Corn Harvest Progress Source: USDA

  4. U.S. Soybean Supply and Use Source: USDA

  5. U.S. Soybean Harvest Progress Source: USDA

  6. Storage Issues Source: Hurburgh and Elmore, ICM News, 10/15/09

  7. World Corn Production Source: USDA

  8. World Soybean Production Source: USDA

  9. Exports & Advance Sales(1st 8 weeks of marketing year) Source: USDA, FAS

  10. Crude Oil Prices Sources: EIA, NYMEX

  11. Renewable Fuels Standard (RFS)

  12. Corn

  13. Soybeans

  14. Ratio: Nov. 2010 Soy/Dec. 2010 Corn Source: CBOT

  15. Input Costs Source: USDA, Agricultural Prices, Oct. 30, 2009

  16. Thoughts for 2009 and Beyond • General economic conditions • Recession: Are we done yet? • Projected economic recovery is a major key for crop prices for the 2009 marketing year • Continued weakness in the dollar helping exports • Most important ag. statistics: Harvest progress, crop production, feed demand • USDA is indicating 2009 season-average prices in the neighborhood of $3.55 for corn and $9.20 for soybeans • Futures Nov. 9: Corn $3.71, Soy $9.39 • 2010/11 based on futures Nov. 9: Corn $4.21, Soy $9.41

  17. Thank you for your time!Any questions?My web site:http://www.econ.iastate.edu/faculty/hart/Iowa Farm Outlook:http://www.econ.iastate.edu/outreach/agriculture/periodicals/ifo/Ag Decision Maker:http://www.extension.iastate.edu/agdm/

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