1. What are the acres harvested for 2020-21?

A) 89.0 million acres

B) 81.80 million acres

C) 81.7 million acres

D) 90.2 million acres

2. What is the U.S. corn yield for 2020-21?

A) 176.4 Bu./Harvested Acre

B) 167.0 Bu./Harvested Acre

C) 175.0 Bu./Harvested Acre

D) 177.3 Bu./Harvested Acre

3. What are the beginning stocks for 2020-21?

A) 1813 Million Bushels

B) 2140 Million Bushels

C) 2114 Million Bushels

D) 2081 Million Bushels

4. What is the production for 2020-21?

A) 15925 Million Bushels

B) 13661 Million Bushels

C) 14863 Million Bushels

D) 14700 Million Bushels

5. What is the total supply for 2020-21?

A) 15825 Million Bushels

B) 17793 Million Bushels

C) 16568 Million Bushels

D) 16812 Million Bushels

6. What is the total domestic abuse for 2020-21?

A) 12065 Million Bushels

B) 13915 Million Bushels

C) 15130 Million Bushels

D) 12710 Million Bushels

7. What is the total use for 2020-21?

A) 15020 Million Bushels

B) 13915 Million Bushels

C) 10410 Million Bushels

D) 15130 Million Bushels

8. What are the ending stocks for 2020-21?

A) 1910 Million Bushels

B) -1057 Million Bushels

C) 719 Million Bushels

D) 1548 Million Bushels

9. What are the ending stocks as a percent of use for 2020-21?

A) 13.7%

B) 22.4%

C) -5.6%

D) 4.8%

10. What do you expect the price to do in 2020-21 relative to 2019-20?

A) go up

B) go sideways

C) go down

D) go to zero

Use the Supply/Demand Balance Sheet for Corn below to answer the remaining questions Supply/Demand Balance Sheet for Corn 2017-18 2018-19 2019-20 2020-21 (Million Acres) Acres Planted 94.0 90.2 89.1 89.0 Acres Harvested 86.7 82.7 81.7 Bu./Harvested Acre 174.6 176.6 176.4 (Million Bushels) Beginning Stocks 1737 2293 2140 Production 15148 14604 14420 57 36 20 50 Imports Total Supply 16942 16934 16588 Use: Feed and Residual Food, Seed and Ind. Uses Ethanol 5470 6885 5432 5302 7054 5601 5618 6791 5376 5275 6790 5375 Total Domestic 12355 12356 12409 Exports 2293 2438 2065 1850 Total Use 14649 14793 14474 Ending Stocks 2293 2140 2114 Ending Stocks, % of Use 15.7 14.5 14.6 US Season Average Farm Price, $/Bu $3.36 $3.40 $3.35 The expected (trend) yield for 2020-21 is 167.0 bu/ac. Acres harvested for silage is expected to be 3.0 million. Abandoned planted acres are expected to be 4.2 million acres