Friday, October 21, 2016
Closing Grain & Livestock Futures
Dec. corn closed at $3.52 and 1/2, up 1 and 1/2 cents
Nov. soybeans closed at $9.83, up 7 and 1/2 cents
Dec. soybean meal closed at $306.50, up $1.90
Dec. soybean oil closed at 35.12, up 7 points
Dec. wheat closed at $4.14 and 1/2, down 2 and 1/2 cents
Oct. live cattle closed at $101.15, up $2.12
Dec. lean hogs closed at $41.85, up 75 cents
Nov. crude oil closed at $50.85, up 22 cents
Dec. cotton closed at 69.07, down 73 points
Nov. rice closed at $10.29, down 3 and 1/2 cents
Nov. Class III milk closed at $15.46, up 5 cents
Oct. gold closed at $1,265.90, up 30 cents
Dow Jones Industrial Average: 18,145.71, down 16.64 points
Grain & Oilseed Market Briefs
Soybeans, corn up on good demand
Soybeans were higher on commercial and technical buying. Demand continues to be strong with export sales this marketing year expected to top 2 billion bushels. Corn was higher on commercial and technical buying. Corn’s also looking at solid demand against expected record production. The wheat complex was lower on commercial and technical selling. The trade’s watching winter wheat planting and development conditions.
Livestock Market Briefs
Cattle and hog futures close higher
The cattle trade was very slow in developing on Friday afternoon as buyers and sellers waited for the cattle on feed report results. Boxed beef cutout values were higher on choice and lower on select on light to moderate demand, and moderate to heavy offerings. Live cattle contracts on the Chicago Mercantile Exchange settled.77 to 2.12 higher on Friday as futures continued to post aggressive gains with two day market totals in nearby contracts neared $6.00 per hundredweight gains earlier in the session. Lean hogs settled .70 to 1.37 higher as strong gains developed across the December futures as trades continued to focus on the aggressively oversold spot month contract, but have just found enough support to draw prices more than slightly higher, but closing off the day’s high. Barrows and gilts in the Iowa/Minnesota direct trade closed .09 lower at 45.76 weighted average on a carcass basis, the west was down .17 at 45.67, and nationally the hog market was .23 lower at 45.21. Pork carcass cutout value was down.45 at 72.07 FOB plant.
Brownfield coverage of the 2016 National FFA Convention
Mueller receives Star in Agribusiness
Shane Mueller of Garretson, South Dakota’s Supervised Agricultural Experience started with a 5-dollar investment to begin his custom haying business.
Peterson named Star in Agricultural Placement
Brett Peterson of Murdock, Minnesota has wanted to farm since he was a kid.
Renner named Star in Agriscience
The FFA’s Star Awards are one of the most prestigious honors awarded to students by the National FFA Organization.
National convention offers a unique learning experience
The National FFA Convention is an opportunity for students to learn about the diversity in agriculture.
Getting the most out of the FFA experience
The advisor of the National FFA Organization wants his FFA members to get the most out of their experience.
Record amount of red meat in cold storage
The USDA says red meat stocks in cold storage hit a new monthly record for September at 1.207 billion pounds.
Clinton and Trump surrogates discuss farm safety net
A top advisor to Donald Trump says price support programs for commodities need to be reviewed going into the next farm bill.
DuPont to sell some business units
A report from Bloomberg says DuPont plans to sell its herbicide making business to help avoid potential antitrust issues in the company’s merger with Dow.
Oklahoma’s Right to Farm battle intensifies
As the election draws nearer, the battle over a Right to Farm ballot initiative in Oklahoma is intensifying.
NOAA releases winter outlook
There’s no drought relief in sight for central and southern California through at least February.
China to plant less corn, more soybeans
China’s cabinet says that in the next five years, the country will plant more soybean acres, and fewer corn acres.
Pork belly expanding its popularity, reach
Pork belly has become very popular among diners.
Cattle placements down 2%
The USDA says fewer cattle were placed on feed in September 2016 than in September 2015.
Funds to alleviate veterinarian shortages
The USDA is awarding $2.3 Million to 10 states facing veterinarian shortages in rural areas.
Unifying the voice of dairy
The dairy checkoff says the entire dairy industry is working to create a unified voice on social responsibility.
Milk futures firm, cash dairy mixed
In Class III trade at the Chicago Mercantile Exchange, milk futures were up modestly, taking the path of least resistance.
Donnelly named Friend of Farm Bureau
When working on agriculture legislation Indiana Senator Joe Donnelly says he tries to channel members of the farm community.
Koster interviewed about Missouri ag issues
Missouri Attorney General Chris Koster, who is the Democrat running for governor of Missouri this year, accepted our invitation to be interviewed about agriculture issues.
Koster expects courts will side with ag in egg case
Missouri’s Attorney General says he expects oral arguments soon in the appeal of his case against the California egg law.
Grain storage not an issue in Missouri harvest, yet
A lack of grain storage has not been an issue so far this harvest season in Missouri.
Stinkbugs cause issues in Ohio soybean fields
Poor seed quality has been reported this week in a few fields in western Ohio’s Darke County and an OSU extension educator says stink bugs appear to be the main cause.
Cranberry harvest could break record
The nation’s top cranberry producing state could see another record crop.
A more typical October feel underway
On the Plains, dry weather favors autumn fieldwork, including late-season winter wheat planting.
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