Farm bill funding is a concern of the National Pork Producers Council. NPPC science and technology counsel Andrew Bailey calls the fiscal environment challenging as a split congress negotiates the next farm bill. “And with the new cut-go rules and things like that, any increase for us means a decrease for someone else.” Speaking to Brownfield at the World Pork Expo in Des Moines Thursday, he said strengthening and expanding […]
The chief economist with the American Soybean Association says shifting market dynamics could have a greater impact on soy crush expansion. At the start of 2023, there were at least 23 new or expanding soy crush plants across the United States and at least one of those projects is on hold due to “changing market dynamics.” Scott Gerlt says raw material costs have increased and there’s uncertainty about the blending […]
At the Chicago Mercantile Exchange, live and feeder cattle ended the day lower watching corn and waiting for the rest of the week’s direct business to develop. August lives closed $.95 lower at $172.25 and October lives closed $.92 lower at $174.70. August feeders closed $.45 lower at $238.65 and September feeders closed $.80 lower at $241.47. Direct cash cattle trade activity was relatively quiet on Thursday. There was a […]
Maintaining crop insurance remains the top request from farmers for the 2023 Farm Bill. El Paso, Illinois farmer Rob Schaffer tells Brownfield that was a hot topic during a recent meeting of Representative Darin LaHood’s Ag Advisory Committee. “I would suggest that all the farmers that use crop insurance or bankers and input suppliers let their Congress people know that we need crop insurance to stay the way it is. […]
A dairy economist from Illinois says his state’s milk producers had heavy financial losses during the COVID pandemic. Dr. Mike Hutjens tells Brownfield Illinois, unlike their cheese-making neighbors to the north in Wisconsin, has fewer and smaller farms, with most of their production not used for cheese. “We’re a very high milk market because one of our major co-ops provides almost all of the fluid milk to school programs and […]
Lack of precipitation in Ohio has drastically reduced the hay crop for many farmers and is adding pressure to already tight supplies. Jeff Magyar is in northeast Ohio near the Pennsylvania border. “I’m hearing from most guys it’s down 50 to 60 percent,” he says. “And hay was already expensive and $6-7 for small square bales. With the prospect of no second cutting, hay is going to be a very […]
Jul. corn closed at $6.10 and 1/4, up 6 centsJul. soybeans closed at $13.63 and 1/4, up 2 and 1/2 centsJul. soybean meal closed at $404.00, down $1.20Jul. soybean oil closed at 52.50, up 203 pointsJul. wheat closed at $6.26 and 1/4, up 9 and 1/2 centsJun. live cattle closed at $178.77, down 22 centsAug. feeder cattle closed at $238.65, down 45 centsJun. ...
The soybean crush plant being built by Cargill in southeastern Missouri is on pause. A Cargill spokesperson tells Brownfield the hold is due to many shifting market dynamics. Last spring, Cargill announced it would build a soy processing facility in Pemiscot County producing 62 million bushels of soybeans each year. The estimated completion date was 2026 and Cargill says there’s no updated timeline to share on the project. ...
Soybeans were higher on short covering and technical buying. The near-term supply is tight and there are concerns about dry weather in parts of the Midwest. The critical month for most soybeans is August, but any early stress would have some impact on yield. Weekly old crop U.S. soybean sales were up from the previous week, but barely over 7.5 million bushels, mainly to Japan and Germany, with new crop […]
