Soybean futures closed sharply lower following further COVID related lockdowns in China. The trading partner has shutdown its largest city – Shanghai. The move added sharp downward pressure on fears of lacking export demand. While there were three announced soybean export sales last week, and a pair Monday morning, the market is anxious to see export inspections pick up and actually see product on the move. Monday, the USDA announced […]
Brownfield Anchor/Reporter Mark Dorenkamp will be on the ground at University of Minnesota (Twin Cities campus) covering the Minnesota FFA Convention on Monday, April 25, 2022. ...
Ag lenders are encouraging farmers to review their risk management strategies as the Fed increases interest rates. Glen Semple, Vice President of Commercial Lending with Farm Credit Illinois tells Brownfield the Federal Open Market Committee met earlier this month. “They raised interest rates by 25 basis points, which is one-quarter of 1%. That is the first Fed rate increase since 2018.” And he says market expectations are for at least […]
Brownfield’s Mark Dorenkamp will be on the ground in Ames on Monday, April 11, 2022 for the Iowa FFA Leadership Conference. ...
At the Chicago Mercantile Exchange, live and feeder cattle closed lower following Friday’s On Feed numbers and ahead of this week’s direct cash business. April live cattle closed $.17 lower at $140.30 and June live cattle closed $0.60 lower at $136.77. April feeder cattle closed $0.75 lower at $160.82 and may feeder cattle closed $0.25 lower at $165.07. It was as quiet start to the week for direct cash cattle […]
The USDA says the conflict in Ukraine and rising interest rates have caused all food price categories in the latest Consumer Price Index to increase. The Economic Research Service says food prices in February were up one percent from January and nearly eight percent from last year. Food-at-home saw a larger increase in prices than away-from-home. Low stocks of frozen chicken are causing consumers to see large increases in poultry […]
A global economist says as a pair of Eastern European Seaports remain closed, and the U.S. will likely need to find other sources to import fertilizer. Sam Taylor with RaboBank tells Brownfield Nigeria and Iran are two options. “There is also that kind of question that surrounds the Iranian embargo. They are significant urea producers. I think in the last couple of years they have been running significantly below […]
Nestle’s sustainable sourcing lead says the company is working directly with farmers to cut emissions. Daniel Peerless tells Brownfield it’s currently enlisting its suppliers to find ways the company can invest in hard infrastructure efforts to reduce their footprint and he encourages farmers to reach out on partnering opportunities. “Eventually all or most products will be judged by their footprints so we’re kickstarting some of this progress right now by […]
May corn closed at $7.48 and 1/2, down 5 and 1/2 centsMay soybeans closed at $16.64 and 1/4, down 46 centsMay soybean meal closed at $478.90, down $9.00May soybean oil closed at $72.45, down 230 pointsMay wheat closed at $10.57, down 45 and 1/4 centsApr. live cattle closed at $140.30, down 17 centsApr. lean hogs closed at $107.57, up 10 centsApr. ...
