IDEAS home Printed from https://ideas.repec.org/p/ags/nddaae/157670.html
   My bibliography  Save this paper

013 Outlook of the U.S. and World Corn and Soybean Industries, 2012-202

Author

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

Abstract

This report evaluates the United States and world corn and soybean markets for the 2013-2022 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 thenUnited 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 Federal fuel 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 $4.30 and $6.50 per bushel over the 2013-2022 period. Chinese soybean import is a leading factor influencing the world soybean market. China currently imports 66% of soybean trade in the world market, and that is expected to increase to about 70% by 2022. 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 near $12.00/bushel over the time period.

Suggested Citation

  • 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.
    • Handle: RePEc:ags:nddaae:157670
    DOI: 10.22004/ag.econ.157670
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/157670/files/AAE713.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.157670?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. 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)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Saghaian, Sayed & Nemati, Mehdi & Walters, Cory & Chen, Bo, 2018. "Asymmetric Price Volatility Transmission between U.S. Biofuel, Corn, and Oil Markets," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 43(1), January.
    2. Walters, Cory, 2018. "Price Volatility Transmission between U.S. Biofuel, Corn, and Oil Markets," Cornhusker Economics 307037, University of Nebraska-Lincoln, Department of Agricultural Economics.
    3. Saghaian, Sayed H. & Nemati, Mehdi & Walters, Cory G. & Chen, Bo, 2017. "Asymmetric Price Volatility Interaction between U.S. Food and Energy Markets," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258240, Agricultural and Applied Economics Association.

    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. & 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.
    2. 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.
    3. 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.
    4. 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.
    5. 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.
    6. 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.
    7. 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.
    8. 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.
    9. 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.
    10. 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.
    11. 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.
    12. 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.
    13. 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.
    14. Marc Nerlove, 1979. "The Dynamics of Supply: Retrospect and Prospect," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 874-888.
    15. Tegene, Abebayehu, 1983. "A rational expectations approach to the modelling of agricultural supply: a case study of Iowa," ISU General Staff Papers 198301010800009963, Iowa State University, Department of Economics.
    16. Koo, Won W. & Taylor, Richard D. & Swenson, Andrew L. & Duncan, Marvin R., 1999. "1999 North Dakota Agricultural Outlook: Representative Farms 1999-2008," Agricultural Economics Reports 23334, North Dakota State University, Department of Agribusiness and Applied Economics.
    17. Taylor, Richard D. & Koo, Won W., 2013. "013 Outlook of the U.S. and World Wheat Industries, 2013-202," Agribusiness & Applied Economics Report 157807, North Dakota State University, Department of Agribusiness and Applied Economics.
    18. Koo, Won W. & Taylor, Richard D., 1999. "1999 Outlook Of The U.S. And World Wheat Industries, 1998-2008," Agricultural Economics Reports 23222, North Dakota State University, Department of Agribusiness and Applied Economics.
    19. Eswaramoorthy, K., 1991. "U.S. livestock production and factor demand: a multiproduct dynamic dual approach," ISU General Staff Papers 1991010108000010523, Iowa State University, Department of Economics.
    20. Taylor, Richard D. & Koo, Won W. & Swenson, Andrew L., 2010. "2010 North Dakota Agricultural Outlook: Representative Farms, 2010-2019," Agribusiness & Applied Economics Report 92979, North Dakota State University, Department of Agribusiness and Applied Economics.

    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:157670. 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.