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Crop Outlook for 2011

Crop Outlook for 2011. Iowa Institute for Cooperatives 2010 Annual Meeting Ames, Iowa November 23, 2010 Chad Hart Assistant Professor/Grain Markets Specialist chart@iastate.edu 515-294-9911. U.S. Corn Supply and Use. Source: USDA. U.S. Soybean Supply and Use. Source: USDA.

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Crop Outlook for 2011

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  1. Crop Outlook for 2011 Iowa Institute for Cooperatives 2010 Annual Meeting Ames, Iowa November 23, 2010 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. Soybean Supply and Use Source: USDA

  4. World Corn Production Source: USDA

  5. World Soybean Production Source: USDA

  6. Corn Export Sales Source: USDA, FAS

  7. Soybean Export Sales Source: USDA, FAS

  8. Ethanol Margins Source: ISU, CARD

  9. Ethanol Margins Source: ISU, CARD

  10. Corn Futures Trade Source: CFTC

  11. Projected 2010 Season-Average Corn Price

  12. Projected 2011 Season-Average Soy Price

  13. Principal Crop Area Source: USDA-NASS

  14. States with Room to Grow

  15. New Crop Futures Price Movements

  16. Thoughts for 2011 and Beyond • General economic conditions • Continued economic recovery is a major key for crop prices • Fears of Chinese inflation and credit tightening have hit the markets • Long-term oil price remain in the $90 range • Supply/demand concerns • South America: La Niña impacts • Biofuels: E10, E12, or E15; Do the tax credits get extended/renewed? • Will supply be able to keep pace with demand? • 2010/11: USDA: Corn $5.20, Soy $11.45 Futures (as of 11/22/2010): Corn $4.91, Soy $11.33 • 2011/12: Futures (as of 11/22/2010): Corn $4.67, Soy $10.95

  17. Thank you for your time!Any questions?My web site:http://www.econ.iastate.edu/~chart/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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