You are the grain market outlook specialist for a Midwestern university. Assume the date is July 15, 2024. This is a two part assignment. Your first task is to forecast the U.S. average yield of corn. The following model is available to you: Y = 67 +1.87 +0.65C R = 0.85 67+1.87(20) +0.45 (50) = where y is the U.S. average yield per acre of corn, T,is a time trend variable and C, is the mid- July sum of good and excellent crop conditions rating for the United States. The time trend variable equals 20 for 2024 and the mid-July 2024 good crop conditions rating is 30 and the excellent rating is 20. a) Predict the 2024 U.S. average yield of corn using the above model AGBE/FIN 4328/5328 Name: 1355 The date remains July 15, 2024 and your second task is to complete the balance sheets for corn below. You can use the information provided in the table and the answer to problem a. You may also need information not provided here or in problem a. Assume the relationship between the US farm price of corn (y) and the ending stocks/use ratio (xt): yt = 1.9 + 6.9 * Xt 2022/2023 Beginning Stocks (Mil. Bu.) Production (Mil. Bu.) Total Supply (Mil. Bu.) Food, Seed, Industrial (Mil. Bu.) Exports (Mil. Bu.) Feed & Residual (Mil. Bu.) 1860 6,075 Total Use (Mil. Bu.) 10,720 Ending Stocks (Mil. Bu.)-D 2045 958 11,807 [127605) 2,795 Harvested Acreage (Mil. Acres) Yield/Acre (Bu./Acre) Ending Stock/Use (%) Farm Price ($/Bu.) 80.9 145.95 2.26 - 2023/2024 2045 2,950 2,000 6,050 11000 81.4 (use whole number) (use ending stock as a percent)

The date remains July 15,2024 and your second task is to complete the balance sheets for corn below, You can use the information provided in the table and the answer to problem a You may also need information not provided here or in problem a. Assume the relationship between the US farm price of corn(yt) and the ending stocks/use ratio (xt):yt=1.9+6.9xt1 You are the grain market outlook specialist for a Midwestern university. Assume the date is luly 15, 2024. This is a two part assignment. Your first task is to forecast the U.S. average yield of corn. The following model is available to you: yt=67+1.8Tt+0.65Ct67+1.87(20)+0.45(50)=R2=0.85 where yy is the U.S. average yield per acre of corn, Tt is a time trend variable and Cz is the midluly stmof good and excellent crop conditions rating for the United States. The time trend variable equals 20 for 2024 and the mid-July 2024 good crop conditions rating is 30 and the excellent rating is 20 . a) Predict the 2024 U:S, average yield of com using the above model 135.5 The date remains July 15, 2024 and your second task is to complete the balance sheets for corn below. You can use the information provided in the table and the answer to problem a. You may also need information not provided here or in problem a. Assume the relationship. between the US farm price of corn (yt) and the ending stocks/use ratio (xt):yt=1.9+6.9x01