Tuesday, March 31, 2015

 

Closing Grain and Livestock Futures
May corn closed at $3.76 and 1/4, down 18 and 1/4 cents
May soybeans closed at $9.73 and 1/4, up 5 and 1/2 cents
May soybean meal closed at $326.80, up $3.60
May soybean oil closed at 30.39, down 10 points
May wheat closed at $5.11 and 3/4, down 18 and 1/2 cents
Apr. live cattle closed at $161.32, down $1.17
Apr. lean hogs closed at $62.42, up $1.12
Apr. crude oil closed at $47.60, down $1.08
May cotton closed at 63.10, up 58 points
May rice closed at $10.87 and 1/2, down 24 and 1/2 cents
Apr. Class III milk closed at $15.65, up 7 cents
Apr. gold closed at $1,183.10, down $1.70
Dow Jones Industrial Average: 17,776.12, down 200.19 points

Grain & Oilseed Market Briefs
Corn, wheat lower following USDA numbers

Soybeans were higher on fund and commercial buying. USDA sees this year’s planted area at a record 84.6 million acres, 1% above 2014. Corn was lower on fund and commercial selling. Corn acreage is pegged at 89.2 million acres, 2% lower than a year ago, and the third straight year with a decline. The wheat complex was lower on fund and commercial selling. Planted area for all types of wheat was 3% below a year ago and stocks were up 6%, with slower demand.

Livestock Market Briefs
Boxed beef ends higher

Cattle country was very quiet on Tuesday with no bids reported. Boxed beef cutout values were higher on moderate to fairly good demand and light to moderate offerings. Chicago Mercantile Exchange live cattle contracts were mostly 37 to 117 lower. Lean hogs ended the session 25 to 112 points higher. Barrows and gilts in the Iowa/Minnesota direct trade closed .12 lower at 56.47 weighted average on a carcass basis, the West is down .15 at 56.25, and the East is not reported due to confidentiality. The pork carcass cutout value is down .03 at 68.36.

Brownfield coverage of the Iowa Soybean Association trade mission to China

News Briefs
Brownfield Michigan rolls out with Nicole Heslip as Anchor/Reporter
Brownfield, Ag News for America, is pleased to announce Nicole Heslip is the Anchor/Reporter of Michigan Brownfield, the former Michigan Farm Radio Network.
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Biosecurity key to fighting animal disease
In comparison to last year, this winter was fairly quiet for pork producers with the Porcine Epidemic Diarrhea virus.
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Ducey vetoes Arizona animal abuse legislation
Arizona Governor Doug Ducey has vetoed a bill which would have separated farm animals from pets under the state’s animal abuse law.
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Expected shift to beans expected outside Corn Belt
A report by Illinois Ag Economist Gary Schnitkey says the shift to soybeans this year is most likely going to occur “outside of the Corn Belt.”
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USDA expects record soybean acreage
The USDA’s projecting record U.S. soybean acreage in 2015.
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U.S. grain stocks increase
According to the USDA, U.S. corn and soybean stocks on March 1st were up sharply on the year.
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Strong finish for dairy markets
A pretty strong finish to the month in the dairy markets.
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End of an era for EU dairy farmers
A day of mixed emotions for European dairy producers on Tuesday.
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Indiana
ACEP funds available for Indiana farmers
Secretary of Agriculture Tom Vilsack announced over $330 million in funds available through the Agricultural Conservation Easement Program.
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Equine Herpes confirmed in Michigan
Two cases of Equine Herpes Virus-1 (EHV-1) have been confirmed in Michigan, now the sixth state this year to lose horses to the disease.
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Minnesota
Protocol on turkey farms where avian flu is present
Avian flu has been confirmed in three Minnesota counties and the executive director of the Minnesota Turkey Growers Association tells Brownfield once the virus infects a flock, it’s a lengthy process before that farm is able to resume production.
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Missouri
Missouri legislature passes Omnibus Ag Bill
An agriculture bill containing many provisions for Missouri farmers and ranchers is on its way to the governor.
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MFU lobby day timing a little off
As Missouri Farmers Union members gathered at the Capitol in Jefferson City today to lobby against proposed legislation they consider anti-family-farmer – the state legislature passed an omnibus ag bill the group does not like.
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Ohio
Ohio Ag groups send TPA support letter
Several agricultural organizations in Ohio are urging Ohio’s Congressional delegation to support the passage of Trade Promotion Authority (TPA).
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Agricultural Conservation Easement Program funding
The USDA has announced $332 million in funding for the Agricultural Conservation Easement Program (ACEP).
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Wisconsin
Wisconsin farmers getting ready
The first day of April has Wisconsin farmers getting a little anxious about starting field work.
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Smithfield to expand Patrick Cudahy plant
Smithfield Foods is planning a $12 million expansion of its Patrick Cudahy plant in Milwaukee.

Weather
Summer-like on parts of the Plains

Across the Corn Belt, snow showers dot the lower Great Lakes region, where chilly weather persists.

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