Wednesday, December 6, 2016

Closing Grain & Livestock Futures
Dec. corn closed at $3.50 and 1/2, down 1/2 cent
Jan. soybeans closed at $10.49, up 1 and 1/4 cents
Dec. soybean meal closed at $319.20, down $1.00
Dec. soybean oil closed at 37.72, up 10 points
Dec. wheat closed at $3.86 and 1/4, down 3 and 1/4 cents
Dec. live cattle closed at $109.37, down 47 cents
Dec. lean hogs closed at $54.70, up $1.32
Jan. crude oil closed at $49.77, down $1.16
Mar. cotton closed at 71.05, down 28 points
Jan. rice closed at $9.93, down 3 cents
Dec. Class III milk closed at $16.93, down 5 cents
Dec. gold closed at $1,175.00, up $7.40
Dow Jones Industrial Average: 19,549.62, up 297.84 points

Grain & Oilseed Market Briefs
Export demand continues to support soybeans

Soybeans were modestly higher on commercial and technical buying. It was an up and down day, with strong demand eventually winning out over probable record domestic production. Corn was modestly lower on profit taking and technical selling. Corn had correction after gaining almost twenty cents late last week and early this week. The wheat complex was lower on commercial and technical selling. The supply side of the market remains bearish, both domestically and internationally.

Livestock Market Briefs
Internet cattle trade lower

The Fed Cattle Exchange reported 8,014 cattle on the list today, with 3,401 head of those actually sold at generally 2.00 lower than last week from 109.00 to 112.00, with a weighted average price of 110.28. Boxed beef cutout values closed lower on light to moderate demand and moderate offerings. Chicago Mercantile Exchange live cattle contracts settled .47 lower to .25 higher. Lean hogs settled .72 to 2.27 higher. Barrows and gilts in the Iowa/Minnesota direct trade closed 1.81 higher at 52.01 weighted average on a carcass basis, the west is up 1.69 at 51.91, and nationally the direct market is 2.06 higher at 51.86. The pork carcass cutout value was .62 higher at 7513 FOB plant in the afternoon report.

News Briefs
Ag leaders react to news of Branstad’s China appointment
It’s being widely reported today that Iowa Governor Terry Branstad has accepted President-elect Donald Trump’s offer to be the next U.S. ambassador to China.
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EPA holds hearing on its REGS proposed rule
The EPA’s Renewables Enhancement and Growth Support proposed rule is designed to support market growth of ethanol and expand availability of higher ethanol blends.
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Another big week for ethanol production
U.S. ethanol production topped a million barrels a day last week.
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Antibiotic resistant gene found by researchers
A new drug resistant gene has been found by Ohio State University researchers.
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Market analyst says profits are possible
An agricultural market analyst says his outlook is not as bearish heading into the new year as he was a year ago.
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Minneapolis Wheat enjoying premium status
A relatively strong supply and demand situation for Hard Red Spring varieties is supporting Minneapolis Wheat prices.
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Plant breeding for consumer preferences
A plant scientist says the future of plant breeding starts with the consumer in mind.
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Equipment dealers hope for better year in 2017
Sales of farm equipment have been lagging for the past couple of years, but there seems to be a bit more optimism heading into 2017.
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Milk futures mixed, cash dairy lower
In Class III trade at the Chicago Mercantile Exchange, milk futures were mixed, consolidating after a couple of losing sessions.
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Illinois
Making sure Rural America’s voice is heard
Rural America had a big impact on the 2016 Election and the executive director of the Illinois Farm Bureau says that momentum is likely to carry over in the 2018 Farm Bill debate.
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Indiana
Indiana Packers adds cold storage facility
Indiana Packers Corporation has announced plans for a $23 million cold storage distribution center.
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Minnesota
DNR making progress on finalizing Buffer Map
The Minnesota Department of Natural Resources is making progress on finalizing the Buffer Protection Map.
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Minnesota Ag Water Quality Certification helping farmers
The Minnesota Agricultural Water Quality Certification program is helping farmers throughout the state implement conservation practices.
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Nebraska
Ricketts announces ag land assessment guidelines
Nebraska Governor Pete Ricketts has announced a plan to help alleviate some of the property tax burden on the state’s farmers and ranchers.
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Wisconsin
Regular feed tests pay off
A University of Wisconsin nutrition specialist says monitoring the quality of feed regularly pays off.
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Seminar reinforces importance of cow comfort for production, fertility
Research proves cow comfort directly impacts milk production and fertility – and that point was driven home at a meeting of Wisconsin dairy producers this week.

Weather
A mid-Winter look & feel on the northern Plains
On the Plains, blizzard warnings have expired across North Dakota, although bitterly cold, breezy conditions persist.

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