A dry start to the growing season could spark even more volatility in the grain markets. Glenn Wachtler with Compeer Financial tells Brownfield costly inputs and low soil moisture will be heavily scrutinized this year. “Can the country keep up a 181 bushel national average yield in these times of La Nina and high fertilizer prices?” He says that could be difficult and recommends some hedging before planters start to […]
Producers are slightly more optimistic about the future of the ag economy, according to the latest Purdue University/CME Group Ag Economy Barometer. But, Jim Mintert, director of the Purdue Center for Commercial Agriculture, says farmer sentiment is lower than year-ago levels. “I just think that’s reflective of the tremendous amount of uncertainty that’s out there,” he says. “Farmers continue to tell us that when we ask them about their number […]
An economic advisor to the White House says the Biden administration is amplifying efforts to alleviate supply chain issues that are driving up the price of ag inputs and other goods. David Kamin tells Brownfield three global alliances control 80 percent of global container shipping capacity. “So, to combat this problem, the President will announce steps to lower consumer prices and level the playing field,” he said. “Including launching a […]
The executive director of the Plant Based Products Council says the biobased products industry presents economic and environmental opportunities for rural communities. Jessica Bowman tells Brownfield “according to USDA data, the industry contributes $470 billion in value to the U.S. economy and supports 4.6 million American jobs.” The USDA says biobased products are derived from plants and other renewable agricultural, marine, and forestry materials. Bownman says increased focus on sustainability […]
Soybeans were sharply higher on commercial and technical buying. Beans continued to react to the strength in world vegetable oils, with Ukraine a major exporter of sunflower oil, in addition to canola oil. The sharply higher move in crude oil also played into the gains in vegetable oils. China bought another 264,000 tons of new crop U.S. beans, pushing the running total over the last three business days to 1.139 […]
May corn closed at $7.25 and 3/4, up 35 centsMay soybeans closed at $16.90, up 53 and 1/4 centsMay soybean meal closed at $454.30, up $8.00May soybean oil closed at 76.21, up 369 pointsMay wheat closed at $9.84, up 50 centsApr. live cattle closed at $140.52, down 90 centsApr. lean hogs closed at $106.20, up $2.70Mar. Class III milk closed at $22.26, up 21 centsApr. ...
The USDA says 64,161,252 tons of soybeans were crushed in the U.S. in 2021. That’s a decline of 3% from 2020, due in part to higher soybean prices cutting into crush margins, but still 1.6 million tons above the 2019 total. Crude soybean oil production was 25.207 billion pounds, 1% less than last year, with soybean cake and meal production at 47,192,928 tons, most of that for animal feed use, […]
A new study shows red meat exports contributed $0.63 per bushel to US corn and $1.64 per bushel to US soybeans in 2021. John Hinners with the US Meat Export Federation tells Brownfield the study by World Perspectives, conducted annually since 2015, shows the amount of corn and soybeans consumed by cattle and hogs that are harvested and exported. “In 2021, cattle and hogs for red meat exports consumed 536 […]
The USDA says 5.152 billion bushels of U.S. corn were consumed for ethanol production in 2021. That’s an increase of 8% from 2020, when production was constrained by the pandemic, but a decrease of 180 million bushels from the 2019 total. The Renewable Fuels Association says last year’s blend rate was a record 10.34% of every gallon of gasoline sold, with annual production of 15 billion gallons, the largest volume […]
