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Brownfield
Minnesota farmer calls current price environment “stressful”
A northwest Minnesota farmer calls the current price environment “stressful.” Austen Germolus grows corn, soybeans, wheat, barley, and has a registered herd of British White cattle near Ada. “It’s wild watching the markets, like one day to the next you don’t know what to expect. But I think we’re still at a very profitable level.” He tells Brownfield planning for next year is causing a lot of stress too. ...
Soybeans, corn up on the day, down on the week
Soybeans were higher on commercial and technical buying, but still ended the week sharply lower. Beans and products were oversold and most forecasts do show hot, dry weather in many growing areas during key phases of development. The USDA’s next round of production projections is out July 12th. The International Grains Council sees the 2022/23 world soybean crop at 390 million tons, compared to the last guess of 387 million […]
Economist expects a more bullish future for cattle markets
A livestock economist says there’s been a shift in the tone of the Cattle on Feed numbers. University of Missouri’s Scott Brown says the last several reports have been relatively bearish for the markets. But that’s not the case this time around. “Placements in May were 2.1% below year-ago levels,” he says. “That actually falls outside the pre-report range.” He tells Brownfield this could be a change in trajectory moving […]
ACE unveils Carbon Intensity Calculator
The American Coalition for Ethanol recently unveiled its carbon intensity calculator. ACE CEO Brian Jennings says it’s designed to help estimate potential improvements corn farmers and ethanol producers can make to reduce their carbon footprint. “Carbon intensity when it comes to biofuels goes all the way back to the corn field and how corn is grown, the fertilizer used and the tillage practices. And that kind of scrutiny can create […]
Craig somewhat confident Senate will pass Lower Food and Fuel Costs Act
There’s some confidence the U.S. Senate will approve the Lower Food and Fuel Costs Act. Minnesota Congresswoman Angie Craig introduced some of the legislation included in the House-passed package. “I learned a long time ago not to predict what’s going to happen in the Senate in Washington. But I know that year-round sales of E15 has been an issue that members of both parties can come together on.” The bill […]
Ag production costs and demand pressures are mounting
A leading ag economist says production and demand pressures are mounting for ag producers. The University of Missouri’s Scott Brown said disposable consumer income growth will be nearly flat this year while spending has increased around 10 percent. “How are we doing that? It’s credit cards, it’s taking on debt; those things can’t continue forever,” he said. “And if U.S. consumers have less money in their pockets, do they consume […]
May poultry production 3% above last year
U.S. poultry production during May 2022 was up 3% from May 2021. The USDA says the amount of poultry certified as wholesome last month was 4.247 billion pounds, including 3.824 billion pounds of chicken, 5% higher, and 412.758 million pounds of turkey, 8% lower. The chicken slaughter was 6% above a year ago at 789.893 million head, canceling out a 1% decline in the average live weight to 6.42 pounds, […]
Hog futures higher to end the week
At the Chicago Mercantile Exchange, live cattle ended the day mixed ahead of the USDA’s On Feed numbers. Feeders were lower, pressured by the higher corn. August live cattle closed $.50 lower at $133.37 and October live cattle closed $.25 lower at $138.75. August feeders closed $2.35 lower at $172.50 and September feeders closed $1.77 lower at $175.07. It’s a quiet end to the week for direct cash cattle trade […]
