Friday, October 2, 2015

Closing Grain and Livestock Futures
Dec. corn closed at $3.89 and 1/4, up 1/2 cent
Nov. soybeans closed at $8.74 and 1/4, down 3 cents
Oct. soybean meal closed at $298.50, down $4.10
Oct. soybean oil closed at 27.84, up 75 points
Dec. wheat closed at $5.13 and 1/4, down 5 cents
Oct. live cattle closed at $123.07, up $1.67
Oct. lean hogs closed at $73.35, up 72 cents
Nov. crude oil closed at $45.54, up 80 cents
Dec. cotton closed at 60.14, down 46 points
Nov. rice closed at $13.25, down 5 cents
Oct. Class III milk closed at $15.69, up 11 cents
Dec. gold closed at $1,136.60, up $22.90
Dow Jones Industrial Average: 16,472.37, up 200.36 points

Grain & Oilseed Market Briefs
Most lower finish for grains and oilseeds

Soybeans were lower on fund and technical selling. The trade’s watching harvest activity, with good anecdotal yields in most areas. Corn was mostly fractionally lower. Corn was also watching the weather, expecting at least some harvest delay over the weekend in the Southeastern Cornbelt due to Hurricane Joaquin. The wheat complex was lower on fund and technical selling. Contracts saw a slight correction after the move to seven week highs.

Livestock Market Briefs
Livestock futures close higher

Packer inquiry in the cattle remained spotty on Friday afternoon with just a few defensive bids noted in parts of Nebraska. Boxed beef cutout values were lower on light to moderate demand and heavy offerings. Chicago Mercantile Exchange live cattle contracts settled 10 to 167 points higher as traders tried to stabilize the market going into the weekend. Lean hogs settled 20 to 102 points higher with renewed support seen through the lean hog complex. Barrows and gilts in the Iowa/Minnesota direct trade closed .13 higher at 71.44 weighted average on a carcass basis, the West was up .27 at 71.18, and nationally the market was down .20 at 70.23. The pork carcass cutout value was down .88 at 85.53 FOB plant.

Brownfield coverage of the 2015 World Dairy Expo
No time to sit on the sidelines
Some were surprised when the Federal Reserve Board decided to leave interest rates unchanged a couple of weeks ago.
Feeding those big forage crops
It has been a very good year for forage production across the Midwest.
The inspiration is still there
For 30 years, Bonnie Mohr’s paintings have been a “must-see” at World Dairy Expo.
The added versatility has added business
A few years ago, Mark Clarke stepped-down as general manager of World Dairy Expo to become general manager of the Alliant Energy Center as the plans for the New Holland Pavilion were being implemented.

News Briefs
TPP talks extended
Agricultural issues continue to be a sticking point in the Trans Pacific Partnership (TPP) negotiations, according to reports coming out of the latest TPP talks in Atlanta, Georgia.
USDA: Tote bags possible PEDv introduction
USDA investigators say tote bags used for transporting pig feed may have been the way three coronaviruses, including Porcine Epidemic Diarrhea Virus (PEDV), entered the United States.
Ag prof analyzes Syngenta ruling
A federal court ruling on the case against Syngenta has been analyzed by an agricultural law professor.
Slightly higher pork supplies in 2016
An ag economist says the pork industry will see slightly higher supplies in 2016.
Oilseed and Grain Trade Summit celebrates 10th year
The Hyatt Regency in downtown Minneapolis is where hundreds have gathered to address key issues affecting the global oilseed and feed grain sector.
A wild week in the dairy markets
The end of a pretty crazy week in the dairy markets on Friday.
Cash butter drops, milk futures mixed
In the spot dairy market, AA butter was down $.20 at $2.50.
Some yields have been surprising
Harvest is in full swing and southwest Indiana farmer Don Villwock says farmers have been surprised at yields.
Water quality improvements see results
The Director of Michigan’s Department of Agriculture says conversation practices are making an impact in the Western Lake Erie Basin.
Conserving nutrients while protecting water quality
A conservation consultant says managing subsurface drainage fields leads to improved water quality but it’s not something most farmers do.
Minnesota extension agronomist concerned about stalk quality
A corn-based extension agronomist in Minnesota is concerned about stalk quality.
Urban high school ag education programs are popular
Agriculture education programs are blooming in inner-city high schools.
Educating poultry producers about avian influenza
A poultry veterinarian is working to educate poultry producers on tightening biosecurity to prevent an outbreak of highly pathogenic avian influenza in Ohio.

A wetter, warmer pattern ahead for the Heartland
The latest forecast guidance strongly suggests that Hurricane Joaquin will remain offshore, although a brush with coastal New England cannot be ruled out.

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