Friday, August 29, 2014

Closing Grain and Livestock Futures
Sep. corn closed at $3.59, down 2 and 3/4 cents
Sep. soybeans closed at $10.89 and 1/2, up 15 and 3/4 cents
Sep. soybean meal closed at $439.50, up $6.30
Sep. soybean oil closed at 32.04, down 60 points
Sep. wheat closed at $5.50 and 1/4, down 6 and 1/4 cents
Aug. live cattle closed at $155.90, up $1.25
Oct. lean hogs closed at $98.12, up $2.65
Oct. crude oil closed at $95.96, up $1.41
Dec. cotton closed at 66.57, down 1 point
Sep. Class III milk closed at $23.95, unchanged
Sep. gold closed at $1,285.80, down $2.90
Dow Jones Industrial Average: 17,098.38, up 18.81 points

Brownfield coverage of the 2014 Farm Progress Show
Water issues big topic at FPS 2014
Water was a big topic at this week’s Farm Progress Show, which was cut short by too much water.
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Call JULIE prior to digging to avoid injury, liability
Hitting underground utilities during digging can result in severe consequences.
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Open Ag Data Alliance addresses information management
With the introduction of new services that involve data generation, a new group has come into being.
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Valent releases new soybean herbicide
At this year’s Farm Progress Show, Valent announced the release of a new soybean herbicide, Fierce XLT.

Grain & Oilseed Market Briefs
Quiet, mixed session ahead of Labor Day weekend

Soybeans were mixed on commercial buying against speculative selling. Unknown bought 123,000 tons of new crop U.S. and overall demand remains strong. Corn was lower on fund and technical selling. Traders continue to watch the weather, with more scattered rainfall expected over the next few days in key growing areas. The wheat complex was lower on fund and technical selling. The trade’s watching the situation in Ukraine and the domestic spring wheat harvest delays.

Livestock Market Briefs
A light cattle trade at higher prices on Friday
USDA Mandatory reported cattle trading was light in Kansas on moderate demand, compared to the previous week, live sales were 2.00 to 3.00 higher at 155.00. Boxed beef cutout values were weak on light to moderate demand and moderate to heavy offerings. Chicago Mercantile Exchange live cattle contracts settled 50 to 132 points higher. Lean hogs settled 25 to 265 points higher. Barrows and gilts in the Iowa/Minnesota direct trade closed 2.07 higher with a weighted average of 92.60 on the carcass basis, the West was up 1.07 at 91.53, and Eastern markets at 90.50 with no price comparison. The pork carcass value was 1.10 higher at 101.72 FOB plant, bellies were nearly 11.00 higher.

Harrisvaccines USDA approved (2)

News Briefs
WOTUS debate rages on
The debate continues to rage over the EPA’s proposed Waters of the U.S. (WOTUS) rule.
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Another record year for ag exports
The U.S. is on its way to another record year in agricultural exports.
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Standability not seen as a problem
When you have the potential for extremely high yields in corn, as is the case this year across most of the Midwest, standability can become an issue.
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Fargo chosen for ag genotyping center
Fargo, North Dakota has been chosen over Decatur, Illinois as the site of the new National Agricultural Genotyping Center (NAGC).
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Another good week in the dairy markets
Cash cheese and butter were higher on the Chicago Mercantile Exchange on Friday along with Class III futures.
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EU to help dairy producers
The European Commission announced it will offer Private Storage Aid to pay for the storage of butter, skim milk powder and some cheeses for three to seven months.
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Indiana
Agronomist: Check your stalks
Growing conditions for corn have generally been pretty good across the Eastern Corn Belt.
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An evening to “Dine and Discuss” agriculture
There is a growing disconnect between consumers and their food.
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Missouri
Strong emotions in MO dairy bill veto
Missouri dairy industry leaders say a subsidy on federal insurance that the legislature approved would help slow the decline in the number of dairy farmers in the state and keep dairy prices low for Missouri consumers.
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Ohio
Recent rain saved the soybean crop
Up until a week ago, Preble County Ohio farmer Don Jackson wasn’t so sure about his 2014 soybean crop, but Don says a two inch rain last week saved his soybeans.
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Rep. Latta spends day talking agriculture
Congressman Bob Latta (R-OH) toured four agricultural operations in the 5th District on Thursday, August 28.
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Wisconsin
NCR-SARE grants available
The 2015 North Central Region – Sustainable Agriculture Research and Education Program (NCR-SARE) Farmer Rancher Grant Call for Proposals is now available.

Weather

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.

BF MOBILE 300X50

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