Friday, October 31, 2014

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Closing Grain and Livestock Futures
Dec. corn closed at $3.76 and 3/4, up 2 and 3/4 cents
Nov. soybeans closed at $10.46 and 1/2, up 22 and 1/4 cents
Dec. soybean meal closed at $389.00, up $9.00
Dec. soybean oil closed at 34.80, up 49 points
Dec. wheat closed at $5.32 and 1/2, down 3 and 1/2 cents
Oct. live cattle closed at $169.50, down $1.00
Dec. lean hogs closed at $88.02, up 82 cents
Nov. crude oil closed at $80.54, down 58 cents
Dec. cotton closed at 64.45, down 5 points
Nov. Class III milk closed at $21.25, unchanged
Nov. gold closed at $1,171.10, down $27.00
Dow Jones Industrial Average: 17,390.52, up 195.10 points

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Grain & Oilseed Market Briefs
Another solid session for soybeans
Soybeans were higher on fund and commercial buying. There should be some good harvest progress reported Monday, but parts of the Eastern Midwest have seen more delays. Corn was higher on fund and commercial buying, along with spillover from beans. Corn was also watching harvest activity, especially those rain and snow related delays in the Eastern Midwest. The wheat complex was lower on fund and technical selling. Weather in the Eastern Midwest is delaying winter wheat planting, with more in the five day forecast.

Livestock Market Briefs
Feedlot cattle lightly traded

The trade volume totals in the cattle were generally light on Friday afternoon with feedlots resisting lower packer bids. Boxed beef cutout values were lower to sharply lower on light demand and light to moderate offerings. Live cattle contracts settled with triple digit losses on Friday following a sharp turnaround seen through the morning trade. Lean hogs settled unchanged to 1.55 lower. Barrows and gilts in the Iowa/Minnesota direct trade closed .45 lower at 86.02 weighted average on a carcass basis, the West was down .44 at 85.87, and the East had no price comparison at 83.52. Pork carcass value FOB plant was down .33 at 97.51, with only bellies and picnics higher.

News Briefs
Midwest ground zero for glyphosate resistance

Unless action is taken – and soon – farmers may lose a key tool in fighting weeds.
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Holistic, integrated solutions for farming
Mathias Kremer, Head of Strategy for Bayer CropScience welcomed attendees to the Corn Soybean Future Forum in Frankfurt, Germany Thursday by laying out his company’s commitment to the future of these crops.
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Growing ag leaders
Monsanto president Brett Begemann says there’s no better place to see the future of agriculture than the National FFA convention.
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NDB, DMI & UDIA leadership named
Leadership for the next year for the National Dairy Board, Dairy Management Incorporated and the International Dairy Foods Association has been elected.
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A mixed week in the dairy markets
At the close of trading on the Chicago Mercantile Exchange on Friday, cash cheese barrels increased 4.5 cents, blocks gained a half-cent while there was no activity in butter and nonfat dry milk.
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Illinois
An open arms approach to membership
National FFA Officer candidate and Illinois state FFA President Sam Detweiler wasn’t your typical FFA member.
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Ohio
Dropping temps and PEDv
The forecast for dropping temperatures may be causing pork producers to flashback to last winter and the outbreak of the Porcine Epidemic Diarrhea Virus (PEDv).
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Kalmbach Feeds holds Open House
Kalmbach Feeds has taken another step to set it apart from the competition.
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Wisconsin
Wisconsin dairy farm expansion will proceed
An administrative law judge says a Kewaunee County dairy farm may proceed with expansion with some additional groundwater monitoring at the site.
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Wisconsin Corn Board seats up
Nominations are now being accepted for three seats on the Wisconsin Corn Promotion Board.
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Wisconsin Taste of Elegance entries sought
Entries are now being accepted for the Wisconsin Pork Association 2015 Taste of Elegance contest.

Weather
Harvest delays apparent
Across the Corn Belt, cloudy, showery, chilly weather is hampering fieldwork in the lower Great Lakes region.

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