Monday, April 27, 2015
Closing Grain and Livestock Futures
May corn closed at $3.60 and 3/4, down 3 and 3/4 cents
May soybeans closed at $9.73, up 3 and 1/4 cents
May soybean meal closed at $315.10, up 50 cents
May soybean oil closed at 31.66, down 1 point
May wheat closed at $4.70 and 1/4, down 15 and 3/4 cents
Apr. live cattle closed at $160.47, down 70 cents
Jun. lean hogs closed at $79.40, down 5 cents
Jun. crude oil closed at $56.99, down 16 cents
May cotton closed at 66.39, down 11 points
May rice closed at $9.85 and 1/2, down 12 and 1/2 cents
May Class III milk closed at $16.49, down 11 cents
Apr. gold closed at $1,203.30, up $28.10
Dow Jones Industrial Average: 18,037.97, down 42.17 points
Grain & Oilseed Market Briefs
Weather pressures corn, wheat
Soybeans were mixed on commercial activity. Demand remains strong, with unknown buying 158,000 tons of old crop U.S. beans, but the supply is only getting larger as South America’s harvest moves on. Corn was lower on fund and speculative selling. Forecasts are showing mostly dry conditions over the next five days, helping wet areas of the southeastern Cornbelt make up for the early delays. The wheat complex was lower on fund and speculative selling. There’s been more rain in the Plains, stretching from Oklahoma to North Dakota.
Livestock Market Briefs
Cattle showlists look smaller
Total trade volume in the cattle last week was mixed, significantly higher in Nebraska, somewhat higher in Kansas, but lower in Texas. Boxed beef cutout values were steady to firm on moderate demand and offerings. Chicago Mercantile Exchange live cattle contracts settled 70 to 137 lower. Lean hogs were 32 points higher to 40 lower. The pork carcass cutout value was up .92 at 70.86 FOB plant. Barrows and gilts in the Iowa/Minnesota direct trade closed 2.00 higher with a weighted average of 66.72 on a carcass basis, the West was up 1.95 at 66,52, and the East was not reported due to confidentiality.
Iowa reports four ‘probable’ avian flu cases-UPDATED
Editor’s note: Since this story was first posted, the Iowa Department of Agriculture and Land Stewardship has reported another “probable” case of avian flu in a 3.7 million bird egg laying operation in Sioux County.
19% of U.S. corn, 2% of soybeans planted
The U.S. corn planting pace made a pretty strong jump over the past week.
Fighting early-season weeds
For no-till farmers this planting season, Michigan State University Weed Scientist Christy Sprague recommends combating horseweed, or marestail, with a good burndown herbicide.
Senator Donnelly urges continued support of CRP
A bipartisan group of Senators are encouraging Secretary of Agriculture Tom Vilsack to emphasize continued support for the Conservation Reserve Program to Congress.
Farmers Union remains opposed to TPA, TPP
The National Farmers Union is once again calling on Congress to reject Trade Promotion Authority legislation.
USDA addresses climate change
USDA announced new incentives to reduce greenhouse gas emissions, increase carbon sequestration and increase renewable energy.
Runoff management keeps watershed clean
A producer who farms near the shore of Chesapeake Bay advises other watershed farmers to be proactive in managing nutrient runoff.
John Deere responds to ownership article
A spokesman for John Deere says he wants to make it clear that if a farmer buys a tractor from John Deere, they own it.
Corn, soybean inspections up on week
The USDA reports soybean and corn export inspections for the week ending April 23rd were more than what’s needed to meet USDA projections for the 2014/15 marketing year, while wheat was short of its mark.
Illinois corn planting progress jumps 16 points
Corn planting in Illinois was limited in some areas by cool, wet conditions; however, statewide planting progressed to 31 percent complete.
Slow start has Indiana farmer concerned
It’s been a slow start to the planting season for Vanderburgh County, Indiana farmer Joe Steinkamp.
MSU increases green energy
Since 2009, Michigan State University has reduced greenhouse gas emissions by 18 percent.
Minnesota Farm Bureau calls Governor “bully”
Political bullying is how the public policy advisor for Minnesota Farm Bureau describes Governor Mark Dayton’s mandatory 50-foot buffer proposal.
Minnesota state FFA president joined because of classroom visit
The Minnesota FFA Convention is underway at the University of Minnesota in St. Paul.
86th Minnesota FFA Convention underway
The 86th Minnesota FFA Convention kicked off over the weekend at the University of Minnesota in St. Paul.
Missouri corn planting still behind
Missouri corn planting was limited in some areas by cool, wet conditions; however, statewide planting progressed to 20 percent complete, a jump of 12 percentage points over the past week.
UNL to break ground on new veterinary diagnostics center
The University of Nebraska-Lincoln will break ground this week on a new veterinary diagnostic center (VDC) on UNL’s East Campus.
Dry weather allows South Dakota planting to progress
It’s dry in South Dakota.
2015 Wisconsin Master Cheesemakers
The Wisconsin Master Cheesemaker® program has graduated two new and four returning Master Cheesemakers.
A cold start in the far eastern Corn Belt
Across the Corn Belt, chilly conditions linger east of the Mississippi River, where widespread frost and freezes were noted early Friday.
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