Friday, July 31, 2015

Closing Grain and Livestock Futures
Sep. corn closed at $3.71, down 2 and 1/4 cents
Aug. soybeans closed at $9.80 and 3/4, down 9 and 1/2 cents
Aug. soybean meal closed at $354.60, down $2.50
Aug. soybean oil closed at 29.98, down 30 points
Sep. wheat closed at $4.99 and 1/4, up 2 and 3/4 cents
Aug. live cattle closed at $145.70, up 47 cents
Aug. lean hogs closed at $78.50, down $1.17
Sep. crude oil closed at $47.12, down $1.40
Oct. cotton closed at 64.01, up 35 points
Sep. rice closed at $11.51 and 1/2, up 8 cents
Aug. Class III milk closed at $16.41, up 3 cents
Aug. gold closed at $1,094.90, up $6.50
Dow Jones Industrial Average: 17,690.46, down 55.52 points

Grain & Oilseed Market Briefs
Chinese cancellation sends soybeans lower

Soybeans were lower on fund and speculative selling. China canceled on 200,000 tons of previously purchased new crop U.S. beans, confirming some recent market chatter. Corn was lower on fund and speculative selling. Mexico bought more than 108,000 tons of U.S. corn, mostly for delivery next marketing year. The wheat complex was mixed, with light commercial interest supporting Kansas City and nearby Chicago contracts. Contracts started the day around five week lows and unknown bought nearly 127,000 tons of U.S. wheat.

Livestock Market Briefs
Cattle trade at higher prices

USDA Mandatory reported cattle trading and demand was moderate in Kansas Friday afternoon. Boxed beef cutout values were steady on light to moderate demand and offerings. Chicago Mercantile Exchange live cattle contracts ended the day mostly 30 to 80 points lower. Lean hogs settled 70 to 197 points lower. Barrows and gilts in the Iowa/Minnesota direct trade closed at 75.56 weighted average on a carcass basis, with no price comparison, the West was down .78 at 75.23, and nationally the market was .15 lower at 74.42. Pork carcass cutout value was up 1.25 at 87.48 FOB plant.

News Briefs
Groups urge DOJ investigation of pork deal
Several ag, consumer and competition groups are urging the U.S. Department of Justice to investigate the proposed merger of JBS and Cargill.
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Collin Peterson says American trade policies partly to blame for poultry restrictions
U.S. trading partners are threatening to restrict more poultry exports if a vaccine is used to treat avian influenza.
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AFBF: WOTUS memos reveal EPA misconduct
Army Corps of Engineers internal memos connected to the EPA’s Waters of the U.S. rule reveal what the American Farm Bureau says is dysfunction, secrecy and misconduct at the EPA.
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WOTUS lawsuits consolidated
A dozen lawsuits against the EPA and Army Corps of Engineers on its Clean Water rule – formerly named Waters of the U.S. – have been consolidated.
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A little less-profitable on the farm in June
The Index of Prices Received by Farmers in June decreased 1.9 percent from May.
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Bayer reportedly not interested in Syngenta
Several reports say Bayer is not interested in acquiring its competitor Syngenta – as Monsanto continues to pursue Syngenta.
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Young entrepreneur combines passion for farming, tech
The InfoAg Conference, which took place this week in St. Louis, is about blending high technology with agriculture.
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Commodity Carnival in its third year
Fairs across the country are providing a unique opportunity for young fairgoers to learn about the business of agriculture.
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U.K. dairy producers want help
Dairy farmers in Northern Ireland met with Minister of Agriculture Michelle O’Neill and members of their national assembly Agriculture Committee on Thursday in an effort to get the United Kingdom to do something about milk prices.
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Dairy markets rebound
Despite the big drop on Monday, dairy markets recovered quite nicely by the end of the week on the Chicago Mercantile Exchange.
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Indiana
Indiana seeks disaster declaration
Indiana Governor Mike Pence is requesting a secretarial disaster declaration for counties with crop loss from this year’s excessive rainfall.
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Forage quality is a concern
Forage quality is another casualty of this year’s excessive rainfall.
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Michigan
MSU funds research with syrup
Michigan State University’s newest forestry research is tapping into its own resources for funding.
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Minnesota
New AURI director has background in biotech
The new executive director of the Agricultural Utilization Research Institute (AURI) has a background in biotechnology.
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Missouri
Wheat yields good at MU test plots
Despite heavy rain and related disease pressures in wheat, yields have been good at most test sites in the University of Missouri Variety Testing Program.
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Nebraska
Contract hog finishing expanding in Nebraska
Contract finishing of hogs is expanding in Nebraska.
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Dairy program recognized by Neb. Dept. of Health
The Nebraska Department of Health has presented a “Certificate of Appreciation” to the Midwest Dairy Association, in recognition of that group’s Fuel Up to Play 60 program.
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Ohio
Ohio State Fair sets opening day record
The 2015 Ohio State Fair began its 12 day run with record attendance.
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Grand Champion Market Lamb selected
Opening Day of the 2015 Ohio State Fair on Wednesday, July 29, ended with the selection of the Grand Champion market lamb.

Weather
Cooler days ahead for much of the Corn Belt
During the next 5-days, heavy showers (locally 1 to 3 inches) can be expected in parts of the Southwest and lower Southeast.

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