A farmer in northeast Iowa is waiting on better conditions to begin spring fieldwork. Bob Hemesath of Decorah says it’s wet and there’s still frost in the ground. “So we’re still a little ways from any fieldwork. It’s going to take a little more warm rain and a little more sunshine and warmer temperatures to get us in the field.” He tells Brownfield planting in his area usually begins around […]
At the Chicago Mercantile Exchange, live cattle were mixed, and feeders were lower on position squaring ahead of Friday’s On Feed numbers. The numbers were close to pre-report expectations and mostly look neutral for prices in the short-term, however, the placements numbers will likely weigh on deferred futures contracts. April live cattle closed $.80 higher at $140.47. April feeder cattle closed $1.15 lower at $161.57. It was a quiet Friday […]
A livestock economist says the industry continues to place cattle into feedlots earlier than normal. University of Missouri’s Scott Brown says placements were 9% above year-ago levels and while that is within pre-report estimates, it was at the very high end of the range. “This continues to show us that there aren’t many options to keep those calves in some of the dry weather regions of the country,” he says. […]
May corn closed at $7.54, up 5 and 3/4 centsMay soybeans closed at $17.10 and 1/4, up 9 and 1/2 centsMay soybean meal closed at $487.90, up $2.00May soybean oil closed at $74.75, up 46 pointsMay wheat closed at $11.02 and 1/4, up 16 and 1/2 centsApr. live cattle closed at $140.47, up 80 centsApr. lean hogs closed at $107.47, up $4.70Apr. ...
Soybeans closed the week gaining support. The complex is being supported by continued drought pressure in Brazil. Some scattered rains in Brazil and Argentina added downward pressure in the market early this week. Struggling South American crops have given U.S. beans support on the global market, even with elevated prices. The USDA announced the sale of 132,000 metric tons of old crop soybeans to China Friday morning. That was the […]
A commodities financial expert says drought conditions in the Western Corn Belt and beyond have some farmers less optimistic for planting. “Everybody’s looking for just a little more moisture before they plant.” Curt Covington, Senior Director of Institutional Credit, with AgAmerica tells Brownfield the lack of moisture is out of farmers’ control in those regions, and many are moving ahead with the hopes the rain will come. “It’s going to […]
Russia’s continued invasion of Ukraine is putting a squeeze on farmers trying to plant a crop. Ukraine farmer Kees Huizinga says despite the ongoing conflict they’re attempting to start planting the 2022 crop. But, he says crop rotations will likely have to be adjusted. “People will start to pant other crops,” he says. “But it also kind of depends on the area where they are. For example, we will not […]
The USDA says cattle placed in feedlots during February 2022 was 9% above 2021 at 1.85 million head. That’s at the top end of the pre-report range. Nearly 65% of the cattle placed weighed less than 800 pounds, which could imply ranchers are expecting lower feed costs in the coming months, giving them more time to feed out before heading to market this summer. February marketings were 5% above 2021 […]
Brandon Wipf is on the American Soybean Association Board and is also on the committee that oversees putting on the Commodity Classic. The 2022 Classic was his first as a committee member, and to hear it from Brandon, there’s a lot of behind-the-scenes work that goes into producing the mammoth show, especially coming off the one-year hiatus that resulted from the global COVID-19 pandemic. “We were definitely challenged this year […]
