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Crop Outlook for 2011: Key Insights from the Iowa Institute for Cooperatives Meeting

The 2010 Annual Meeting in Ames, Iowa, presented by Chad Hart, Assistant Professor and Grain Markets Specialist, highlighted crucial factors impacting 2011 crop projections. Key insights include U.S. corn and soybean supply estimates, global production trends, and the implications of economic conditions on crop prices. Factors such as Chinese inflation, oil prices, and La Niña effects in South America are discussed. Additionally, the meeting covers futures pricing for corn and soybeans, anticipated margins for ethanol, and the importance of biofuel policies. For more information, visit: http://www.econ.iastate.edu/~chart/.

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Crop Outlook for 2011: Key Insights from the Iowa Institute for Cooperatives Meeting

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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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