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TRANSCRIPT
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Projected Long Term Growth in Net Farm Income
2
Average Annual Net Farm Income 1980 - 2020
($ in billions)
Source: USDA, expressed in nominal dollars
$29.1B
$48.1B
$61.1B
$83.6B
$20
$40
$60
$80
$100
' 80 - ' 89 ' 90 - ' 99 ' 00 - ' 09 ' 10 - ' 20
Long Term Growth Drivers– Income Growth in Developing Countries– Increasing Demand for Biofuels– Technological Advances – Genetics, Crop Production, GPS
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Increasing Demand from Developing Countries
3
Household Disposable Income Over U.S. $10,000
Source: Euro monitor, Morgan Stanley Research
– Increasing Household Incomes in Developing Markets Drive Demand for Protein and Grains
– 4 of the Top 5 US Soybean Acreage Counties are in ND– Cass County #1 / Richland County #2
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2011 Ethanol Production Capacity in ND
Increasing Demand for Biofuels
– Ethanol Production Drives Demand for Corn Production– US Ethanol Production to Grow From 13.5B Gal to 15B Gal by 2015
Source: Nebraska Energy Office (NEO)
1995 2007 20110
50
100
150
200
250
300
350
400
450
Mill
ions
of G
allo
ns
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ND Corn Production 1995-2010
Technological Advances
Source: USDA, NASS
Technological Advances Allow Increased Acres and Yield
1995 2000 2005 20100
200000
400000
600000
800000
1000000
1200000
1400000
1600000
1800000
2000000
0
50
100
150
200
250
300
Acres Yield
Tota
l Yie
ld
in M
illio
ns o
f Bus
hels
Ave Corn Yield Increased from 79 bu per acre in 1995 to 132 bu per acre in 2010 due to Technological Advances in Seed Genetics and Production Methods
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Since 2000 AG Revenue & Inputs have Increased Over 200%
Ag Economic Impact in ND
– Fuel Provider– Fertilizer Supplier– Seed Dealer
– Chemical Vendor– Vehicle & Equipment Dealer– Employees
AG Inputs
2000 2005 20100.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
9.00
ND Ag Revenue ND Ag Inputs
Bill
ions
of D
olla
rs
Source: USDA, NASS