Wednesday, December 17, 2014

 

Closing Grain and Livestock Futures
Mar. corn closed at $4.08 and 1/4, up 2 and 1/4 cents
Jan. soybeans closed at $10.27, up 3 and 1/2 cents
Jan. soybean meal closed at $359.30, up $2.70
Jan. soybean oil closed at 31.77, unchanged
Mar. wheat closed at $6.48 and 1/2, up 25 and 1/4 cents
Dec. live cattle closed at $156.42, down $2.55
Feb. lean hogs closed at $80.47, down $1.20
Jan. crude oil closed at $56.47, up 54 cents
Mar. cotton closed at 60.65, up 87 points
Jan. Class III milk closed at $15.75, up 17 cents
Dec. gold closed at $1,194.30 up 40 cents
Dow Jones Industrial Average: 17,356.87, up 288.00 points

 

Grain & Oilseed Market Briefs
Wheat continues to soar

Soybeans were higher on fund and technical buying. There was just no real fresh news for beans and weather around South America looks generally good. Corn was lower on fund and technical buying. China reportedly purchased 900,000 tons of dried distillers’ grains last week and is said to be in the market for U.S. corn. The wheat complex was higher on fund and commercial buying. The trade’s continuing to monitor the trade and financial situations in Russia, which could lead to more demand for U.S. wheat.

Livestock Market Briefs
Hogs closed sharply lower

USDA Mandatory reports cattle trading has been limited Wednesday afternoon in Kansas on light to moderate demand. Boxed beef cutout values were weak to lower on light demand and light to moderate offerings. Live cattle contracts settled 95 higher to 192 points lower on the Chicago Mercantile Exchange on Wednesday. Lean hogs ended the session 75 to 152 points lower. Barrows and gilts in the direct trade areas were significantly slower on Wednesday. The pork carcass cutout value is down 1.74 at 87.24.

 

News Briefs
U.S. to restore full diplomatic relations with Cuba
President Obama announced a change in U.S. relations with Cuba on Wednesday morning.
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Senate passes tax extenders package
The Senate has approved the tax extenders package on a 76-16 vote. It now heads for the White House for approval.
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Barge user fee increase passes
A nine-cent increase in the barge user fee on the Illinois and Mississippi Rivers has passed the U.S. Senate by a wide margin.
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USDA confirms bird flu in wild birds
The USDA has confirmed the presence of highly pathogenic H5 avian influenza in wild birds in the extreme northwestern county of Washington state.
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Dairy just keeps nudging lower
Cash cheese barrels increased a penny to $1.5875 on the Chicago Mercantile Exchange on Wednesday, blocks held steady at $1.6075, butter lost another 5.5 cents to $1.555 and nonfat dry milk slipped a penny to 99.5 cents per pound.
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Indiana
Members make the difference
Farm Bureau’s members are at the heart of the organization’s success.
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Purdue offers new agronomy course online
Purdue University’s Department of Agronomy is offering a distance education course to give farmers and those in the agriculture industry a better understanding of agronomy.
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Ohio
Involving Young Ag Professionals
Jack Fisher, Executive Vice President of the Ohio Farm Bureau addressed members and delegates during the Ohio Farm Bureau Federation’s Annual Meeting on Thursday, December 11, 2014.
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Young Ag Professionals to hold conference
Ohio Farm Bureau’s Young Ag Professional’s will hold their annual winter leadership conference on January 30 and 31 in downtown Columbus.
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Wisconsin
Wisconsin couple named to AFBF Young Farmer committee
Tim and Danielle Clark of Beaver Dam have been appointed by the American Farm Bureau Federation to its Young Farmers & Ranchers Committee for the 2015-2017 term beginning in March.

Weather
A fairly active pattern across the Nation

The early- to mid-week period will feature drought-easing precipitation in California, with 2- to 5-inch totals possible.

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