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Market Fundamentals and Price Outlook for 2014 and Beyond MSU Field Crops Meetings

Market Fundamentals and Price Outlook for 2014 and Beyond MSU Field Crops Meetings. Jim Hilker Agricultural, Food, and Resource Economics Department Michigan State University February 19-21, 2014. Monthly Corn Futures. Weekly Corn Futures. March 2014 Corn Futures.

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Market Fundamentals and Price Outlook for 2014 and Beyond MSU Field Crops Meetings

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  1. Market Fundamentals and Price Outlook for 2014 and BeyondMSU Field Crops Meetings Jim Hilker Agricultural, Food, and Resource Economics Department Michigan State University February 19-21, 2014

  2. Monthly Corn Futures

  3. Weekly Corn Futures

  4. March 2014 Corn Futures

  5. U.S. Corn Supply and Demand February 10, 2014

  6. U.S. Meat Production and Prices February 10, 2014

  7. Ethanol Producer Net Returns* Above Variable Costs / Spot prices + 99 cents / gal. (12/6/13) Note: USDA-WAOB estimates based on USDA-AMS plant reports and DOE-EIA estimates and forecasts for natural gas and electricity prices. * Net returns do not include adjustments for corn oil extraction. December 10, 2013

  8. Ethanol and RBOB Futures Prices Reformulate Gasoline Blend Stock (RBOB) Ethanol $.73 12/06/13 Note: Ethanol prices based on CBOT futures. RBOB (Reformulated Gasoline Blend Stock) based on NYME futures. December 10, 2013

  9. Average Daily U.S. Ethanol Production Oct-Nov projected from weekly EIA data Source: U.S. Dept. of Energy, Energy Information Administration. December 10, 2013

  10. Weekly Ethanol Stocks Source: DOE-Energy Information Administration, Weekly Petroleum Status Report. December 10, 2013

  11. World Corn Production February 10, 2014

  12. World Corn Supply and Use February 10, 2014

  13. China - Historical Grain Production Production of corn exceeded rice for the first time in 2012 January 10, 2014

  14. China: Major Crop Area ChangeTotal for all years, 2003-12 January 10, 2014

  15. China Corn Yield Record corn yield in 2013 6.0 T/Ha January 10, 2014

  16. China Corn Area 36.0 Mha Record corn area in 2013 – up nearly every year since 1999. January 10, 2014

  17. China Corn Production 217.0 MT Record corn production in 2013 – Production soared after 2003. January 10, 2014

  18. World Corn Production February 10, 2014

  19. Weekly Export Inspections

  20. Weekly Export Sales

  21. World Corn Supply and Use February 10, 2014

  22. Corn Futures 2/19/14

  23. July 2014 Corn Futures

  24. July 2014 Corn Futures

  25. Dec 14 Corn $4.58’2 versus Nov 14 Soybeans $11.16’2C/S Price Ratio 2.44 (??)Harvest Cash Corn $4.00versusHarvest Cash Soybeans $10.50C/S Price Ratio 2.62 (S’s?)

  26. Corn Futures 2/19/14

  27. Dec 2014 Corn Futures

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