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2012 Crop Market Outlook

2012 Crop Market Outlook. Chad Hart Associate Professor/Grain Markets Specialist chart@iastate.edu 515-294-9911. U.S. Corn Supply and Use. Source: USDA-WAOB. U.S. Soybean Supply and Use. Source: USDA-WAOB. Prices. Current Corn Futures. 7.48. 5.99. 5.46. Source: CME Group, 8/16/2012.

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2012 Crop Market Outlook

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  1. 2012 Crop Market Outlook Chad Hart Associate Professor/Grain Markets Specialist chart@iastate.edu 515-294-9911

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

  3. U.S. Soybean Supply and Use Source: USDA-WAOB

  4. Prices

  5. Current Corn Futures 7.48 5.99 5.46 Source: CME Group, 8/16/2012

  6. Current Soybean Futures 14.89 12.14 11.73 Source: CME Group, 8/16/2012

  7. Thoughts for 2012 and Beyond • Supply/demand concerns • We got some rain, too little, too late • Biofuel growth and energy demand, RFS? • Will supply be able to keep pace with demand? • Drought is pulling supply down • But high prices are diminishing demand • General economic conditions • Continued worldwide economic recovery is a key for crop prices • US job recovery, European financial concerns, China? • 2012/13: USDA: Corn $8.20; Soy $16.00 Futures (as of 8/16/12): Corn $7.48; Soy $14.89 • 2013/14: Futures Corn $5.99; Soy $12.14 • 2014/15: Futures Corn $5.46; Soy $11.73

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