IDEAS home Printed from https://ideas.repec.org/p/ags/nddaae/115564.html
   My bibliography  Save this paper

2011 Outlook of the U.S. and World Corn and Soybean Industries, 2010-2020

Author

Listed:
  • Taylor, Richard D.
  • Koo, Won W.

Abstract

This report evaluates the United States and world corn and soybean markets for the 2010-2020 period using the Global Corn and Soybean Policy Simulation Model. This analysis is based on a series of assumptions about general economic conditions, agricultural policies, weather conditions, and technological change. Corn-based ethanol production has influenced United States corn industry. As long as the production of corn-based ethanol remains strong, corn prices will likely remain at a level higher than the long term average. However, changes in the U.S. Federal government subsidies or mandates could significantly impact the world corn market. Under the current assumptions in the model, corn price is expected to remain in a range between $4.68 and $5.35 per bushel. Chinese soybean import is the leading factor influencing the world soybean market. China currently imports 65% of soybeans trade in the world market, and that is expected to increase to about 70% by 2020. Major exporters will continue to be the U.S., Brazil and Argentina. However both Brazil and Argentina could increase exports while U.S. exports will remain at the current level. Soybean prices are expected to remain strong but slowly decrease to about $9.82 by 2020.

Suggested Citation

  • Taylor, Richard D. & Koo, Won W., 2011. "2011 Outlook of the U.S. and World Corn and Soybean Industries, 2010-2020," Agribusiness & Applied Economics Report 115564, North Dakota State University, Department of Agribusiness and Applied Economics.
    • Handle: RePEc:ags:nddaae:115564
    DOI: 10.22004/ag.econ.115564
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/115564/files/AAE682.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.115564?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Benirschka, Martin & Koo, Won W., 1995. "World Wheat Policy Simulation Model: Description and Computer Program Documentation," Agricultural Economics Reports 23333, North Dakota State University, Department of Agribusiness and Applied Economics.
    2. Beghin, John C. & Dong, Fengxia & Elobeid, Amani & Fabiosa, Jacinto F. & Fuller, Frank H. & Hart, Chad E. & Kovarik, Karen P. & Tokgoz, Simla & Yu, Tun-Hsiang & Wailes, Eric J. & Chavez, Edward & Woma, 2007. "FAPRI 2007 U.S. And World Agricultural Outlook," Staff General Research Papers Archive 12805, Iowa State University, Department of Economics.
      • Beghin, John C. & Dong, Fengxia & Elobeid, Amani E. & Fabiosa, Jacinto F. & Fuller, Frank H. & Hart, Chad E. & Kovarik, Karen & Tokgoz, Simla & Yu, Tun-Hsiang (Edward) & Wailes, Eric J. & Chavez, Eddi, 2007. "FAPRI 2007 U.S. and World Agricultural Outlook," FAPRI Staff Reports 7296, Food and Agricultural Policy Research Institute (FAPRI).
    3. Nerlove, Marc, 1972. "Lags in Economic Behavior," Econometrica, Econometric Society, vol. 40(2), pages 221-251, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Taylor, Richard D. & Koo, Won W., 2011. "The Impact of Alternative Blending Ratios of Ethanol on the U.S. and World Corn and Soybean Industries," Agricultural Policy Briefs 228986, North Dakota State University, Center for Agricultural Policy and Trade Studies.
    2. Taylor, Richard D. & Koo, Won W. & Swenson, Andrew L., 2012. "2012 North Dakota Agricultural Outlook: Representative Farms, 2012-2021," Agribusiness & Applied Economics Report 133395, North Dakota State University, Department of Agribusiness and Applied Economics.
    3. Taylor, Richard D., 2016. "2016 North Dakota Agricultural Outlook: Representative Farms, 2016-2025," Agribusiness & Applied Economics Report 245859, North Dakota State University, Department of Agribusiness and Applied Economics.
    4. Taylor, Richard D. & Koo, Won W., 2015. "2015 North Dakota Agricultural Outlook: Representative Farms, 2015-2024," Agribusiness & Applied Economics Report 208854, North Dakota State University, Department of Agribusiness and Applied Economics.
    5. Taylor, Richard D. & Koo, Won W. & Swenson, Andrew L., 2013. "013 North Dakota Agricultural Outlook: Representative Farms, 2013-202," Agribusiness & Applied Economics Report 162952, North Dakota State University, Department of Agribusiness and Applied Economics.
    6. Taylor, Richard D. & Koo, Won W., 2014. "2014 Outlook of the U.S. and World Corn and Soybean Industries, 2013-2023," Agribusiness & Applied Economics Report 180415, North Dakota State University, Department of Agribusiness and Applied Economics.
    7. Taylor, Richard D. & Koo, Won W., 2014. "2014 North Dakota Agricultural Outlook: Representative Farms, 2014-2023," Agribusiness & Applied Economics Report 187190, North Dakota State University, Department of Agribusiness and Applied Economics.
    8. Taylor, Richard D. & Koo, Won W. & Swenson, Andrew L., 2011. "2011 North Dakota Agricultural Outlook: Representative Farms, 2011-2020," Agribusiness & Applied Economics Report 115629, North Dakota State University, Department of Agribusiness and Applied Economics.
    9. Taylor, Richard D. & Koo, Won W., 2013. "013 Outlook of the U.S. and World Corn and Soybean Industries, 2012-202," Agribusiness & Applied Economics Report 157670, North Dakota State University, Department of Agribusiness and Applied Economics.
    10. Taylor, Richard D. & Koo, Won W., 2015. "2015 Outlook of the U.S. and World Corn and Soybean Industries, 2014-2024," Agribusiness & Applied Economics Report 205345, North Dakota State University, Department of Agribusiness and Applied Economics.
    11. Taylor, Richard D. & Koo, Won W., 2011. "2011 Outlook of the U.S. and World Wheat Industries, 2010-2020," Agribusiness & Applied Economics Report 115558, North Dakota State University, Department of Agribusiness and Applied Economics.
    12. Taylor, Richard D., 2017. "2017 North Dakota Agricultural Outlook: Representative Farms, 2017-2026," Agribusiness & Applied Economics Report 262019, North Dakota State University, Department of Agribusiness and Applied Economics.
    13. Taylor, Richard D. & Koo, Won W., 2010. "2010 Outlook for the U.S. and World Corn and Soybean Industries, 2009-2019," Agribusiness & Applied Economics Report 92003, North Dakota State University, Department of Agribusiness and Applied Economics.
    14. Jacinto F. Fabiosa & John C. Beghin & Fengxia Dong & JAmani Elobeid & Simla Tokgoz & Tun-Hsiang Yu, 2010. "Land Allocation Effects of the Global Ethanol Surge: Predictions from the International FAPRI Model," Land Economics, University of Wisconsin Press, vol. 86(4), pages 687-706.
    15. Palm, F.C., 1981. "Structural econometric modelling and time series analysis towards an integrated approach," Serie Research Memoranda 0004, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    16. Thomas Fellmann & Myrna Leeuwen & Petra Salamon & Ali Koc & Gulden Boluk, 2012. "EU Enlargement to Turkey: Potential Effects on Turkey’s Agricultural Income and Markets," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 2(2), pages 1-16, December.
    17. Durand-Morat, Alvaro & Wailes, Eric J. & Chavez, Eddie C., 2011. "Hybrid Rice And Its Impact On Food Security And The Pattern Of Global Production And Trade," 2011 Annual Meeting, February 5-8, 2011, Corpus Christi, Texas 98845, Southern Agricultural Economics Association.
    18. Schmit, Todd M. & Verteramo, Leslie & Tomek, William G., 2009. "Implications of Growing Biofuel Demands on Northeast Livestock Feed Costs," Agricultural and Resource Economics Review, Cambridge University Press, vol. 38(2), pages 200-212, October.
    19. Koo, Won W. & Taylor, Richard D., 2000. "2000 Outlook Of The U.S. And World Wheat Industries, 1999-2001," Agricultural Economics Reports 23372, North Dakota State University, Department of Agribusiness and Applied Economics.
    20. Kym Anderson & Ernesto Valenzuela, 2007. "The World Trade Organisation's Doha Cotton Initiative: A Tale of Two Issues," The World Economy, Wiley Blackwell, vol. 30(8), pages 1281-1304, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:nddaae:115564. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/dandsus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.