Wednesday, November 25, 2015
Brownfield’s Ag Today e-newsletter will be updated on Friday, November 27.
Closing Grain and Livestock Futures
Dec. corn closed at $3.66, up 1 and 3/4 cents
Jan. soybeans closed at $8.75 and 1/4, up 11 and 1/2 cents
Dec. soybean meal closed at $284.80, up $1.00
Dec. soybean oil closed at 28.89, up 58 points
Dec. wheat closed at $4.79 and 1/4, down 5 cents
Dec. live cattle closed at $130.95, up 70 cents
Dec. lean hogs closed at $58.80, up $1.57
Jan. crude oil closed at $43.04, up 17 cents
Mar. cotton closed at 63.28, up 134 points
Jan. rice closed at $12.13, down 6 cents
Dec. Class III milk closed at $14.58, up 9 cents
Dec. gold closed at $1,070.00, down $3.80
Dow Jones Industrial Average: 17,813.39, up 1.20 points
Grain & Oilseed Market Briefs
Soybeans were higher on short covering and commercial buying. Unknown destinations bought 190,000 tons of 2015/16 U.S. beans Wednesday morning. Longer term demand is uncertain, but U.S. beans are currently cheaper than other origins. Corn was higher on short covering and technical buying. Export demand has been slow, but domestic feed and ethanol demand are solid. There will be no overnight business Wednesday and Thursday, and commodities close at just after Noon Central on Friday. The wheat complex was mixed. The winter crop is heading towards dormancy in pretty good shape.
Livestock Market Briefs
Packer inquiry remained light on Wednesday with just several cattle buyers renewing bids in the North at 195.00 dressed. Boxed beef cutout values ended the day firm to higher on light to moderate demand and offerings. Choice beef was up .28 at 204.09, and select was 1.52 higher at 193.76. Chicago Mercantile Exchange live cattle contracts settled higher on Wednesday. Feeder cattle contracts ended with black ink as the market battered back and forth during a lightly traded session. Feeder cattle receipts at the Philip, South Dakota Livestock Auction totaled 4145 head on Tuesday. Slaughter cattle receipts at the Manchester, Iowa Livestock Auction on Tuesday totaled 587 head. Lean hogs settled mostly higher as strong buying quickly stepped into the market based on firm cash support. Barrows and gilts in the Iowa/Minnesota direct trade closed .01 lower at 51.89 weighted average on a carcass basis, the West was .17 lower at 51.69, and the East was down .18 at 49.78. The pork carcass cutout value was 1.90 lower at 71.22 FOB plant. The hog kill was estimated by USDA at 440,000 head, 3,000 more than last week, and 19,000 more than last year.
EPA reverses course on Dow’s Enlist Duo herbicide
In a surprise move, the U.S. Environmental Protection Agency has withdrawn its approval of Dow AgroScience’s Enlist Duo herbicide. In announcing its decision Wednesday, the EPA cited concerns about the herbicide’s potential impact on endangered plants and animals covered under the Endangered Species Act.
Ethanol volume requirements will steer corn demand
As the agriculture community awaited the Obama Administration’s announcement on the Renewable Volume Obligation, an ethanol specialist talked about the bearing that the ethanol volume requirements will have on corn demand.
Drone used to drop good bugs on crops
Bug dropping drones are being used on some crops in Australia. A University of Queensland student has come up with a way for drones to put the beneficial “californicus mite” onto crops from the air, using a special container to hold them and a spreader.
Seed corn price report released
An ag economist says seed corn prices have been steadily increasing since 1996 and that is likely one of the inputs that farmers will tighten next year.
Grassley: Many factors to consider in TPP decision
Senate Ag Committee member Chuck Grassley of Iowa says he has not yet read the 3,000 pages of the Trans Pacific Partnership trade agreement but from all reports he’s seen, it should be positive for agriculture
Managing the farm in tough economic times
An agronomist says he’s heard a lot of farmers talk about cutting back on crop inputs for 2016 to maximize their returns on investment.
Sales and earnings down at Deere
Deere and Company the latest to document the downturn in the agricultural economy. The nation’s largest farm equipment company is reporting earnings of $351 million for the fourth quarter and $1.94 billion for the year.
Interstate Livestock online tool now available
A new online tool assists producers who move livestock between states. Chelsea Good is a board member of both the National Institute for Animal Agriculture and U.S. Animal Health Association, the two sponsors of www.interstatelivestock.com.
25 X 25 keeps pushing renewable independence
The co-chairman of the group 25 X 25 says after a decade of work, there continue to be challenges in making the U.S. more energy independent.
Illinois leads again in soybean production
Illinois leads the nation in soybean production for the third year in a row.
Preparing for another battle with avian flu
The Indiana State Poultry Association says as weather cools the state’s poultry producers are preparing to protect their operations from another round of avian influenza.
Dry beans weren’t the money maker
Some Michigan farmers made acreage shifts to combat lower commodity prices during 2015. Fifth-generation farmer Dave Williams tells Brownfield this year he added black beans and non-GMO food grade beans into his rotations. But, he says he wasn’t alone.
Conservation assistance available to Michigan farmers
Michigan farmers have until December 18th to apply for environmental incentive funding with the Natural Resources Conservation Service (NRCS).
Minnesota Ag in Classroom director retiring
The retiring director of Minnesota’s Ag in the Classroom says a lot has changed in 30 years. Al Withers initiated the program in 1985.
Foundation push for Cornerstone Dairy Academy
Each year, the Professional Dairy Producers of Wisconsin conduct the Cornerstone Dairy Academy.
Weather pattern to remain unsettled
High pressure will maintain dry, increasingly warm weather over the eastern third of the nation through the Thanksgiving holiday.
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