Wednesday, June 30, 2015

Closing Grain and Livestock Futures
Jul. corn closed at $4.14, up 30 and 3/4 cents
Jul. soybeans closed at $10.56 and 1/4, up 53 and 3/4 cents
Jul. soybean meal closed at $359.50, up $17.60
Jul. soybean oil closed at 33.56, up 51 points
Jul. wheat closed at $6.14 and 3/4, up 34 and 1/4 cents
Jun. live cattle closed at $147.85, down $1.82
Jul. lean hogs closed at $76.20, up $1.95
Aug. crude oil closed at $59.47, up $1.14
Jul. cotton closed at 67.57, up 71 points
Jul. rice closed at $10.16 and 1/2, up 37 and 1/2 cents
Jul. Class III milk closed at $16.11, up 20 cents
Jul. gold closed at $1,171.10, down $7.40
Dow Jones Industrial Average: 17,619.51, up 23.16 points 

Grain & Oilseed Market Briefs
Strong session for grains and oilseeds

Soybeans were higher on commercial and speculative buying. Contracts hit new seven month highs, supported by the USDA numbers and end of the month demand. Corn was higher on commercial and speculative buying. Between the USDA numbers and end of the month demand, December corn closed at a new high for the year. The wheat complex was higher on commercial and speculative buying. September Chicago wheat hit a new 2015 high, with additional support from end of the month buying interest.

Livestock Market Briefs
Lean hogs trade sharply higher

There were sharp losses again on Tuesday in the live cattle complex. Feeder cattle experienced limit down trade. Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 6500 head. Chicago Mercantile Exchange lean hog contracts saw sharp triple digit gains with the summer contracts focusing on short covering activity. The pork carcass cutout value was 1.47 lower at 81.44 FOB plant. Barrows and gilts in the Iowa/Minnesota direct trade closed.13 higher at 74.75 weighted average on a carcass basis, the West was up .03 at 74.81, and nationally the market was .30 higher at 73.85.

News Briefs
Growing list of states suing EPA
There’s a growing list of states now suing the EPA and Army Corps of Engineers over the EPA’s Clean Water Act rule which expands the definition of ‘Waters of the United States.’
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Supreme Court strikes-down power plant emissions rule
The U.S. Supreme Court has struck down President Obama’s 2011 Mercury emissions regulations on coal-fired power plants.
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House Committee concerned about avian flu impacting human health
A letter written by members of the House Energy and Commerce Committee expresses concern about the avian flu outbreak impacting human health.
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Canadian wildfires bring smoke to upper Midwest
Several wildfires in central and northern Canada combined with a northwest flow have resulted in smoke filtering into portions of the Midwest.
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USDA raises soybean acreage, lowers corn
The USDA has raised its 2015 acreage projection for soybeans and lowered its corn estimate.
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USDA to resurvey producers in several states
The USDA is set resurvey farmers in several states to get a more accurate view of this year’s planted acreage.
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Corn, soybean, wheat stocks increase
According to the USDA, corn and soybean stocks on June 1st, 2015 were above year ago levels, but the numbers do indicate good quarterly demand.
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Tri-State RCPP enrollment begins July 1
Farmers in designated watersheds in Ohio, Michigan and Indiana can enroll in the Tri-State Regional Conservation Partnership Program (RCPP) beginning July 1.
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Signup open for 2016 Margin Protection Program
Dairy farmers can sign up for 2016 coverage in the Margin Protection Program beginning July 1st.
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Indiana
Crop potential continues to decline
Excessive rainfall continues to damage Indiana’s corn crop.
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Weather challenges likely to continue
Most of Indiana could do without rain for a few days.
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Crop damage varies across the state
Crop damage from flooding is widespread in Indiana.
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Iowa
Iowa not part of Clean Water Act lawsuits
Iowa is not among the more than two dozen states that have filed lawsuits against the U.S. EPA and Army Corps of Engineers over the new Clean Water Act rule.
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Iowa climatologist on smoke and El Nino
Smoke from wildfires burning in Canada continues to push into the Midwest, creating hazy conditions and reducing sunlight.
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Michigan
Farmers limited in field activity
Tractors are parked as standing water is drowning out field crops across the Midwest.
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Unruly weather beating up crops
Severe thunderstorms last week took their toll on Michigan field crops.
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Minnesota
Minnesota Corn Growers President encourages ethanol supporters to speak up
The President of the Minnesota Corn Growers Association is encouraging those who support renewable fuels to reach out to the Environmental Protection Agency.
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Minnesota crop continues to improve
Despite high winds and hail in parts of Minnesota, the state’s corn and soybean acreage is in much better shape than other parts of the country.
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Minnesota farm incomes decline
Minnesota farmers are making $3.56 per bushel for corn and $9.50 per bushel for soybeans on average.
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Missouri
Missouri Supreme Court upholds Right to Farm Amendment
The Missouri Supreme Court has upheld the Missouri Farming Rights Amendment, approved last August by a thin margin of the state’s voters.
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Nebraska
Nebraska joins Clean Water Act lawsuit
Nebraska is one of 13 states that have filed a lawsuit in district court in North Dakota over the new rule defining “Waters of the U.S.” under the Clean Water Act.
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Ohio
Is sidedressing still an option?
There are still decisions being made when it comes to the corn crop.
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Crop condition ratings slipping in Ohio
As the rain continues, concerns continue to mount for farmers throughout Ohio.
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Wisconsin
DNR will conduct EIS for proposed large Wisconsin hog farm
The Wisconsin Department of Natural Resources (DNR) says it will use an Environmental Impact Statement (EIS) process for the proposed Badgerwood swine operation in Bayfield County.
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Making hay between the showers in Wisconsin
Another week of working between the rain showers in Wisconsin last week.

Weather
Cool, wet pattern to cover much of the Midwest Corn Belt

A strong ridge of high pressure will maintain extremely hot conditions west of the Rockies, particularly in the Northwest.

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