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U.S. Crop Market Outlook - June 2014 Insights on Corn and Soybean Supply

The June 2014 Crop Market Outlook provides vital insights into U.S. corn and soybean supply and demand. It discusses anticipated acreage changes from 2013, along with planting progress returning to the five-year average. Key factors influencing markets, including the crush margins for hogs and cattle, current futures prices, and the ongoing El Niño watch, are analyzed. The report also outlines potential supply and demand concerns, stressing the importance of these crops in the agricultural economy. Visit the provided links for more detailed analysis.

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U.S. Crop Market Outlook - June 2014 Insights on Corn and Soybean Supply

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  1. Crop Market Outlook June 1, 2014 Chad Hart Associate Professor/Crop 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. Corn Acreage Top: 2014 Intended acres Bottom: Change from 2013 Units: 1,000 acres Source: USDA-NASS

  5. Soybean Acreage Top: 2014 Intended acres Bottom: Change from 2013 Units: 1,000 acres Source: USDA-NASS

  6. Principal Crop Acreage Source: USDA-NASS

  7. Crop Shifts Source: USDA-NASS

  8. Time between Survey & Planting Source: USDA-NASS

  9. Corn Planting Progress Source: USDA-NASS

  10. Soybean Planting Progress Source: USDA-NASS

  11. World Corn Production Source: USDA-WAOB

  12. World Soybean Production Source: USDA-WAOB

  13. Hog Crush Margin The Crush Margin is the return after the pig, corn and soybean meal costs. Carcass weight: 200 pounds Pig price: 50% of 5 mth out lean hog futures Corn: 10 bushels per pig Soybean meal: 150 pounds per pig Source: ISU Extension

  14. Cattle Crush Margin The Crush Margin is the return after the feeder steer and corn costs. Live weight: 1250 pounds Feeder weight: 750 pounds Corn: 50 bushels per head Source: ISU Extension

  15. U.S. Meat Production & Prices Source: USDA-WAOB

  16. Corn Export Shifts Source: USDA-FAS

  17. Corn Export Sales Source: USDA-FAS

  18. Soybean Export Sales Source: USDA-FAS

  19. Soy Export Shifts Source: USDA-FAS

  20. Corn Grind for Ethanol

  21. Source: DOE-EIA, Annual Energy Outlook

  22. Current Corn Futures 4.59 4.45 4.40 Source: CME Group, 5/30/2014

  23. Current Soybean Futures 13.16 12.01 11.56 Source: CME Group, 5/30/2014

  24. Corn Prices vs. Costs Per Bushel Cost calculated as Per Acre Cost from ISU Extension divided by Actual Yield per Acre Sources: USDA-NASS for Prices, Duffy for Costs

  25. Soybean Prices vs. Costs Per Bushel Cost calculated as Per Acre Cost from ISU Extension divided by Actual Yield per Acre Sources: USDA-NASS for Prices, Duffy for Costs

  26. 2013/14 Crop Prices

  27. 2014/15 Crop Margins

  28. Source: droughtmonitor.unl.edu

  29. 3-Month Temperature Outlook Source: NOAA-CPC

  30. 3-Month Precipitation Outlook Source: NOAA-CPC

  31. Thoughts for 2014 and Beyond • Supply/demand concerns • Initial supply and demand at record levels • Planting progress is back to the 5-year average • Markets favoring soybeans in the short term and corn longer term • El Niño watch for summer continues

  32. Thank you for your time!Any questions?My web site:http://www.econ.iastate.edu/~chart/Iowa Farm Outlook:http://www.econ.iastate.edu/ifo/Ag Decision Maker:http://www.extension.iastate.edu/agdm/

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