Wednesday, August 20, 2014
Closing Grain and Livestock Futures
Sep. corn closed at $3.59 and 1/2, down 3 cents
Sep. soybeans closed at $11.19 and 3/4, down 1/2 cent
Sep. soybean meal closed at $402.60, up $2.80
Sep. soybean oil closed at 32.86, up 20 points
Sep. wheat closed at $5.39 and 1/2, down 6 and 1/2 cents
Aug. live cattle closed at $149.25, down $1.25
Oct. lean hogs closed at $92.50, down $2.32
Sep. crude oil closed at $96.07, up $1.59
Dec. cotton closed at 65.81, up 165 points
Sep. Class III milk closed at $23.14, up 29 cents
Aug. gold closed at $1,293.50, down $1.60
Dow Jones Industrial Average: 16,979.13, up 59.54 points
Brownfield coverage of the 2014 USB See for Yourself Tour
See For Yourself: Reaching a growing market
The aquaculture industry is a growing market for US soybeans.
Grain & Oilseed Market Briefs
Weather sends soybeans, corn lower
Soybeans were lower on fund and speculative selling. Crop weather generally looks good and the trade expects a record crop. Corn was lower on fund and speculative selling. The trade’s watching rain in parts of the Midwest, with more precipitation in the five day forecast. The wheat complex was lower on fund and technical selling. Wheat’s watching rainfall delaying harvest in the Northern Plains and around Europe.
Livestock Market Briefs
A few cattle trade in the north at lower prices
The cash cattle market was lightly tested on Wednesday afternoon in the North with live sales at 153.00 and dressed sales at 242.00. Boxed beef cutout values were lower on light to moderate demand and moderate to heavy offerings. Live cattle futures contracts settled 110 to 295 points lower on the Chicago Mercantile Exchange on Wednesday. Lean hogs settled 40 to 232 points in the red as weakness quickly developed through the complex as losses in nearby contracts were comparable to pressure in the cattle complex. Barrows and gilts in the Iowa/Minnesota direct trade closed 2.83 lower at 96.68 weighted average on a carcass basis, the West was down 3.17 at 96.36, and there was no price comparison in the East at 98.11. The pork carcass value FOB plant ended the day 2.41 lower at 107.25.
$2 million in new federal funds
Farmers in 20 counties in the Western Lake Erie Basin have an additional $2 million dollars to help prevent soil erosion and nutrient runoff into Lake Erie.
EPA stands firm on WOTUS
Despite the EPA’s outreach efforts on its Waters of the U.S. rule, and numerous efforts by ag organizations to convey their concerns, the impasse over the proposed rule appears to be as wide as ever.
Organic labeling rules tightened
USDA’s National Organic Program has tightened the requirements for the use of brand or company names that contain the word “organic” or its variants on the labeling of packaged food products.
Take time to take precautions
Marshfield Clinic says they found an estimated 12 cases of melanoma, the most serious type of skin cancer, among 607 people screened at Wisconsin Farm Technology Days last week.
Rural Development Value-Added Grants
The USDA has issued a total of $25 million in Rural Development Value Added Grants to 247 businesses in 46 states, Puerto Rico and Micronesia.
CME leader says youth critical to ag’s future
The chairman and president of the CME Group in Chicago came to the Illinois State Fair last week to show his support of county and state fairs and ag youth.
Continued strength in dairy
Cheese demand just keeps going-and-going; barrels gained another 4.5 cents on the Chicago Mercantile Exchange on Wednesday, blocks were up 4 cents.
Indiana Farm Bureau delegate session
Indiana Farm Bureau (IFB) will hold their annual delegate session on Saturday, August 23.
2014 ISF attendance third largest
The 2014 Indiana State Fair ended its 17-day run on Sunday, August 17, and when the numbers were tabulated, 954,884 people attended, making the 2014 attendance, the third highest.
Cellulosic ethanol arrives, but challenges remain
For many years we’ve been hearing that cellulosic ethanol is “just five years away”.
New conservation funding is a start
Steve Davis, NRCS Watershed specialist in Northwest Ohio describes the $2 million dollars available for farmers to seed cover crops this fall in the Western Lake Erie Basin as a start.
Senate Bill 150 rule making
The Ohio Department of Agriculture (ODA) hopes to have rules called for in the recently passed Senate Bill 150 filed by the end of the month.
Ohio Agriculture Women of the Year
Nominations for the 2014 Ohio Agriculture Women of the Year Awards are being accepted.
Wisconsin Value-Added Producer Grants
The USDA announcing $1.69 million in Rural Development Value-Added Producer Grants for 15 Wisconsin businesses.
Late-summer heat on the Great Plains
Across the Corn Belt, scattered showers are most numerous in northern production areas, from North Dakota to Wisconsin.
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