Friday, March 7, 2014
Closing Grain and Livestock Futures
Mar. corn closed at $4.81, down 4 and 3/4 cents
Mar. soybeans closed at $14.57 and 1/2, up 20 cents
Mar. soybean meal closed at $465.00, up $6.60
Mar. soybean oil closed at 44.09, down 18 points
Mar. wheat closed at $6.46 and 1/4, up 4 and 3/4 cents
Apr. live cattle closed at $143.25, up 10 cents
Apr. lean hogs closed at $113.00, up 60 cents
Apr. crude oil closed at $102.58, up $1.02
May cotton closed at 91.27, down 34 points
Mar. Class III milk closed at $22.65, up 5 cents
Apr. gold closed at $1,338.20, down $13.60
Dow Jones Industrial Average: 16,452.72, up 30.83 points
Brownfield coverage of the 2014 Commodity Classic
Opportunities for Indiana soybean farmers
Indiana and Ohio soybean growers have the opportunity for additional revenue by planting high-oleic soybeans this year.
Grain & Oilseed Market Briefs
Fundamentals support soybeans
Soybeans were higher on commercial and technical buying. The near term supply remains very tight and there’s talk ending stocks could be below 150 million bushels Monday. Corn was lower on profit taking. Corn’s watching the export situation in Ukraine and expecting at least some increase in demand. The wheat complex hit three month highs on commercial and speculative buying. Wheat’s also watching Ukraine and the potential for an increase in export demand.
Livestock Market Briefs
Packers should start next week short bought on cattle
Cattle country was very quiet on Friday afternoon, with cattle trading wrapped up for the week. Boxed beef cutout values ended the week steady to firm on light to moderate demand and light offerings. Live cattle contracts settled 10 to 70 points higher on the Chicago Mercantile Exchange on Friday, Markets closed in the black after narrow up and down trade through the morning. Lean hogs ended the session 32 to 115 points higher although the nearby contracts backed away from session highs seen earlier in the morning. There was slow to moderate hog market activity, with moderate to good demand. The pork carcass cutout value ended the day 1.85 higher at 111.99 FOB plant.
Pork Board approves $650k for PEDv research
The National Pork Board approved more money for research into the Porcine Epidemic Diarrhea virus at the National Pork Industry Forum in Kansas City.
Pork board candidates state their cases
Guiding an $80-to-100-Million-Dollar budget for research, education and promotion of the pork industry is the job of 15 board members.
HSUS criticizes, Heineman fires back
The Humane Society of the United States (HSUS) is criticizing the effort to block California’s law dictating how eggs that enter that state are being produced.
No progress on China’s GMO corn issue
China has no timeframe to complete testing on Syngenta’s MIR 162 corn variety.
More retailers offering E85
The number of retail fueling stations offering E85 has grown from 1,229 in 2007 to 2,625 at the end of last year.
Canadian grain movement to increase soon
The backlog of Canadian grain shipments should be coming to an end fairly soon.
Another strong week for dairy markets
Cash cheese blocks increased another 1.25 cents on one unfilled bid on the Chicago Mercantile Exchange on Friday while barrels and butter held steady.
Still time to register for Forum
Discussions at next week’s Indiana Livestock, Forage, and Grain Forum will focus on “Big Data”.
Sen. Portman talks importance of trade
During a meeting with Ohio Farm Bureau County President’s in Washington, D.C. on Wednesday, March 5, Senator Rob Portman (R-OH) said there needs to be a focus on trade when talking about ag issues.
Richards inducted in to ODNR Hall of Fame
Ohio Department of Natural Resources (ODNR) Director Jim Zehringer on Monday, March 3, honored Ohio no-till pioneer Bill Richards of Circleville with the ODNR Hall of Fame Award.
Warmer Wisconsin temps means runoff
With the forecast calling for temperatures over 40 and rain in coming days, Wisconsin agriculture and water quality officials are asking farmers to check the Runoff Risk Advisory Forecast online before spreading manure.
Snow cover dominates the Corn Belt
Across the Corn Belt, temperatures remain at near- or below-normal levels, despite a warming trend in recent days.
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