Friday, February 27, 2015

 

Closing Grain and Livestock Futures
Mar. corn closed at $3.84 and 1/2, up 4 and 1/2 cents
Mar. soybeans closed at $10.30 and 3/4, up 6 and 3/4 cents
Mar. soybean meal closed at $353.70, down 90 cents
Mar. soybean oil closed at 32.80, up 96 points
Mar. wheat closed at $5.17 and 1/2, up 14 and 1/4 cents
Feb. live cattle closed at $158.00, down $3.12
Apr. lean hogs closed at $67.47, up 32 cents
Apr. crude oil closed at $49.76, up $1.59
May cotton closed at 64.93, down 28 points
Mar. rice closed at $10.47, up 8 and 1/2 cents
Mar. Class III milk closed at $15.69, up 19 cents
Mar. gold closed at $1,212.60, up $3.00
Dow Jones Industrial Average: 18,132.38, down 82.04 points

Grain & Oilseed Market Briefs
Commercial demand supports wheat

Soybeans were mixed with nearbys up on commercial buying. There’s still a lot of uncertainty about the truck strike in Brazil, but we do know that there’s a record South American soybean crop. Corn was higher on fund and technical buying. Saudi Arabia bought 140,000 tons of 2014/15 U.S. corn, demand is solid and farmer selling is light, but there’s plenty of corn available. The wheat complex was higher on fund and commercial buying. The trade’s keeping an eye on the latest round of winter weather in the Midwest and Plains.

Livestock Market Briefs
Cash cattle trade slow to develop

By late afternoon there were just a few scattered cattle sales in Nebraska at 252.00 on the dressed basis. Boxed beef cutout values were firm on moderate to fairly good demand and moderate offerings. Chicago Mercantile Exchange live cattle contracts closed mixed on Friday. Lean hogs settled 87 higher to 45 points lower with only July and August in the red. Barrows and gilts in the Iowa/Minnesota direct trade closed .12 lower 66.26 weighted average on a carcass basis, the West was down .15 at 66.01, and the East was not reported due to confidentiality. Pork carcass cutout value was up 2.38 at 70.51 FOB plant.

Brownfield coverage of the 2015 Commodity Classic
Winfield talks to growers at Commodity Classic
Winfield Solutions agronomist Erin Taylor is talking with growers about plant nutrition and planning at the 2015 Commodity Classic.

News Briefs
Reaction to the sign-up extension
Agriculture Secretary Tom Vilsack has announced a one-time extension of the deadline to update base acres or yield history for the ARC and PLC programs.
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Former ag secretaries stump for TPA
Former U.S. ag secretaries representing administrations back to President Jimmy Carter are urging Congress to pass Trade Promotion Authority.
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Defending ethanol ‘a never-ending struggle’
The latest attempt in Congress to weaken the Renewable Fuels Standard (RFS) leaves Jerry Mohr shaking his head.
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Missouri
Missouri Governor Nixon changes Cuba travel plans
Missouri Governor Jay Nixon is no longer traveling to Havana, Cuba, Sunday with members of the U.S. Agriculture Coalition for Cuba (USACC).
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Nebraska
CNH Nebraska plant announces layoffs
CNH Industrial, maker of Case IH and New Holland farm equipment, says it will lay off 136 full-time workers at its Grand Island, Nebraska manufacturing plant.

Weather
Frigid weather in the eastern Corn Belt

Across the Corn Belt, frigid weather lingers east of the Mississippi River.

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