Jul. corn closed at $7.68, up 7 and 1/4 centsJul. soybeans closed at $16.52 and 3/4, down 28 and 1/4 centsJul. soybean meal closed at $432.40, up $1.10Jul. soybean oil closed at 70.66, down 271 pointsJul. wheat closed at $9.76 and 1/2, up 1 and 1/4 centsJun. live cattle closed at $136.12, down $1.70Jul. lean hogs closed at $111.85, down 87 centsJul. ...
Soybeans were sharply lower on fund and technical selling. Beans followed soybean products, with meal down on the drop in China’s domestic prices and bean oil seeing spillover from crude oil. That drop in China’s domestic meal prices was linked to rising domestic supplies, while that decline in soybean oil is not only tied to crude oil, but also the recent losses in global vegetable oils. There are also uncertainties […]
Milk futures were down and cash dairy prices were mostly lower on the Chicago Mercantile Exchange Thursday. June Class III milk was down $0.02 at $24.29. July closed down $0.09 at $23.46. August closed down $0.07 at $24.05. September was down $0.06 at $24.05. October through May contracts ranged from eighteen cents lower in December to two cents higher next April. Dry whey was down $0.0275 at $0.47. Six sales […]
Corn producer Jeff Sandborn testifying before the Michigan Senate Ag Committee 6-23-23 Legislation in Michigan that would provide a tax credit to retailers for installing pumps and tanks for higher ethanol blends has support from farmers and the ethanol industry. Michigan Farmers Union President Bob Thompson testified before the state senate’s ag committee Thursday morning, saying 40% of the nation’s corn is used for ethanol and value-added co-products. “Statewide availability […]
Two North American-owned grain facilities in Ukraine were hit during a Russian attack earlier this week. In an email statement to Brownfield, a company spokesperson said Viterra’s Everi vegetable oil terminal in Mykolaiv was damaged by a missile strike. There were no fatalities, and one employee was injured. Two storage tanks caught on fire and a third tank was damaged. A Bunge grain facility was also hit during the attack. […]
The USDA’s cold storage numbers for May reflect slower consumer demand for beef and pork. Beef supplies at the end of May were a monthly record at 519.833 million pounds, a jump of 25% on the year, well above the 3% year over year increase in beef production. Pork came out at 543.079 million pounds, 17% more than last year, following a 5% rise in production from May 2021 to […]
Domestic commercial red meat production during May was 4.485 billion pounds, 4% more than in May 2021. The USDA says beef production was 2.288 billion pounds, 3% higher, with a 4% increase in the slaughter rate canceling out a nine-pound decrease for the average live weight. The dairy cow slaughter was 225,200 head, 12,600 less than in April, but 1,800 more than May 2021. The year-to-date dairy cow slaughter is […]
It’s been a challenging start to the growing season for farmers in parts of Ohio. “It looks like the beginning of spring – it looks like the beginning to middle of May with how many planters are rolling right now.” Northwest Ohio farmer Nathan Eckel tells Brownfield they spent much of their planting season dodging rains. “Every time we planted, it planted beautiful,” he says. “And then we would just […]
A western Missouri farmer says rains have been timely and stands look good early in the growing season. Kyle Durham tells Brownfield his early planted corn is already about chest high… “The later stuff is still struggling a little to canopy,” he said. “But with the 90 plus degree temperatures that we’ve had for the last week or so, it’s come on a lot in the last two weeks.” The […]
