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Crop Marketing Outlook for 2010

Crop Marketing Outlook for 2010. Welton, Iowa January 25, 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. Storage Issues. Source: Hurburgh and Elmore,

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Crop Marketing Outlook for 2010

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  1. Crop Marketing Outlook for 2010 Welton, Iowa January 25, 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. Storage Issues Source: Hurburgh and Elmore, ICM News, 10/15/09

  5. World Corn Production Source: USDA

  6. World Soybean Production Source: USDA

  7. Soybeans – Argentina & Brazil Source: USDA

  8. Corn Export Sales Source: USDA, FAS

  9. Soybean Export Sales Source: USDA, FAS

  10. Crude Oil Prices Sources: EIA, NYMEX

  11. Renewable Fuels Standard (RFS)

  12. Ethanol Margins Source: ISU, CARD

  13. Outside Influences (Jan. 2007 = 1)

  14. Corn

  15. Corn Futures Source: CBOT, 1/22/10

  16. Soybean Futures Source: CBOT, 1/22/10

  17. Iowa Corn Prices vs. Costs

  18. Iowa Soybean Prices vs. Costs

  19. Thoughts for 2009/10 and Beyond • General economic conditions • Recession: Are we done yet? • Projected economic recovery is a major key for crop prices for the 2009 and 2010 marketing years • Weakness in the dollar helping exports, but dollar may fight back • Supply/demand concerns • Livestock numbers continue to decline • Possible record South American soybean crop • USDA is indicating 2009 season-average prices in the neighborhood of $3.70 for corn and $9.65 for soybeans • Futures Jan. 22: Corn $3.51, Soy $9.33 • 2010/11 based on futures Jan. 22: Corn $3.81, Soy $9.01

  20. Thank you for your time!Any questions?My web site:http://www.econ.iastate.edu/faculty/hart/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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