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DTN Livestock Midday: Pressure Building Despite Lower Corn
Cattle feed lot. Photo: K-State Research and Extension - Creative Commons One would have thought the 40-cent decline in corn futures would have sent feeder cattle contracts through the roof; instead the contracts are trading fully lower as well. GENERAL COMMENTS: Seeming to want to better understand if the corn market intends to fall lower just through Thursday trade or continue to decline, traders have stepped away from not only corn futures but also the livestock contracts.
DTN Grain Midday: Futures Diving Deep Into the Red
Corn is 33 to 35 cents lower with new crop 23 to 25 cents lower, soybeans are 43 to 47 cents lower with new crop 37 to 39 cents lower and wheat 17 to 24 cents lower. CORN: Corn trade is 33 to 35 cents lower on old-crop corn, with new crop 24 to 26 cents lower. There is broader selling amid commodity weakness with trade holding about a nickel off limit lower.
DTN Cotton Open: Lower on Rain and Exports
Emerged cotton seedling. Photo: Orlando Flores, El Paso County, Texas AgriLife The cotton market is sharply lower overnight as the potential for rain in key growing areas is weighing on prices, flimsy export sales from USDA and weakness of so many outside markets. USDA’s weekly export sales are as follows: Net sales of 54,400 RB for 2020/2021 were down 15 percent from the previous week and 41 percent from the prior 4-week average.
DTN Grain Open: Lower With Risk-Off Futures Board
Pre-6 a.m. Globex Prices: July corn is down 14 3/4 cents, July soybeans are down 19 1/2 cents and July KC wheat is down 11 1/2 cents. CME Globex Recap: Early Thursday, Dow Jones futures are trading lower, in line with lower stock prices overseas. U.S. stocks took it on the chin Wednesday after the Labor Department reported consumer prices up 0.8% in April and up 4.2% from last year’s pandemic-afflicted prices.
DTN Livestock Open: Strength in Futures to Continues
©Debra L Ferguson Stock Photography Most of the livestock complex was able to close higher Tuesday. The hope is that the trend will continue. Export sales reports will have an influence on some trading activity and price direction Wednesday. Lower grain futures may provide some support. Cattle: Higher Futures: Higher Live Equiv: $230.62 +1.53* Hogs: Steady Futures: Mixed Lean Equiv: $120.70 +0.91** * based on formula estimating live cattle equivalent of gross packer revenue. (The Live Cattle Equiv.
DTN Livestock Close: Weaker Corn Favors Cattle Contracts
It was another good day for the cattle contracts as the bearish demeanor in the corn market allowed for both the live cattle and feeder cattle contracts to close higher. GENERAL COMMENTS: The cattle contracts relished Wednesday’s weaker corn trade and were able to victor another day and close mostly higher. The cash cattle market seems to be reluctant to throw in the towel this week and has its eye on higher trade as the market still needs to see more cattle trade this week.
Texas Field Reports: Corn Prices Cause Ripple Through Economy
High corn prices are causing a ripple effect throughout the U.S. economy, and the 2021 growing season could be the difference between price stabilization or all-time record high prices, according to Texas A&M AgriLife Extension Service experts.
WASDE Cotton: Domestic Production Rises, Supplies at 5 Year Low
Mid season cotton near Ft. Cobb, Oklahoma. Photo: Jerry Goodson, OSU U.S. cotton production in 2021/22 is projected to rise 2.4 million bales, but total supply is projected at its lowest in 5 years, and both exports and ending stocks are forecast lower than in 2020/21. Production is anticipated at 17.0 million bales, with 12.0 million planted acres as indicated in Prospective Plantings, abandonment projected above the average of the past 5 years, and average yields.
DTN Grain Close: Winter Wheat Falls on Wet Forecast; Soybeans Keep Climbing Higher
Photo: Kevin Hudson, Mississippi State University July KC wheat closed down 19 3/4 cents Wednesday, pressured by rain in the forecast for the U.S. southwestern and Southern Plains. Meanwhile, July soybeans finished up 27 3/4 cents at a new contract high, happening even before USDA released its reports for the day. GENERAL COMMENTS: July corn closed down 7 1/2 cents and December corn was down 18 1/4 cents. July soybeans closed up 27 3/4 cents and November soybeans were up 12 1/4 cents.
DTN Cotton Close: Ends Higher on Supportive Data
©Debra L Ferguson Stock Images The cotton market ended moderately higher Wednesday based on USDA’s supply-demand report, and some weather issues. Essentially, for the old crop (2020-21), tabulators slightly lowered production, increased exports, resulting in a lower domestic carryout of 3.3 million bales. For the new crop (2021-22), USDA projects an increased crop of 17.00 million bales, but lower exports (14.25mb), causing a small carryout of 3.10 million. World carryout was also lowered.
WASE Wheat: Higher Domestic Use, Lower Exports, Increased Stocks
The initial outlook for 2021/22 U.S. wheat is for smaller supplies, higher domestic use, lower exports, and reduced stocks. Supplies are projected down 3 percent from 2020/21 on lower carry-in stocks offsetting higher production and imports. All wheat production is projected at 1,872 million bushels, up 3 percent from last year on higher harvested acreage and yields. The all wheat yield is projected at 50.0 bushels per acre, up 0.3 bushels.
Fuel Report: Prices Jump Higher; Propane Stocks Rise, Still Below Average
Photo: John Nuckolls, FarmPropane.com The U.S. average diesel fuel price increased more than 4 cents to $3.19 per gallon on May 10, 79 cents higher than a year ago. The Rocky Mountain price increased nearly 6 cents to $3.31 per gallon, the East Coast and Midwest prices each increased nearly 5 cents to $3.16 per gallon and $3.13 per gallon, respectively, the Gulf Coast price increased more than 4 cents to $2.97 per gallon, and the West Coast price increased nearly 3 cents to $3.69 per gallon.
Arkansas Corn: What are the Yield Expectations of May Planted Crops?
Corn planting. Photo: University of Missouri This year’s planting season has been a challenge for some to get corn (and other crops) planted due to persistent untimely rains. Areas of East-Central and Northeast Arkansas seem to be the areas lagging behind the most on planting. Statewide we have made good planting progress with an estimated 85% of the anticipated corn acres already planted (NASS report, May 3).
DTN Livestock Midday: Cattle Feeling Confident Amid Weaker Corn Prices
Weaker corn prices call for stronger cattle prices as the cattle market has long waited its turn to trade higher. GENERAL COMMENTS: Even though corn prices are still plenty high for feedlots liking, any downward trade is a good day in their books. Both the live cattle and feeder cattle contracts are soaking up the day’s opportunity to trade higher while the corn market ispressured to trade lower.
DTN Grain Midday: Huge Soy Gains Prior to WASDE
©Debra L Ferguson Stock Images Corn is 1 to 2 cents higher with new crop 5 to 6 cents lower, soybeans are 43 to 47 cents higher with new crop 16 to 18 cents higher and wheat flat to 7 cents lower. CORN: Corn trade is 1 to 2 cents higher on the front months, with new crop 5 to 6 cents lower and early gains fading as trade works to carve out a range in pre-report action with domestic weather unthreatening for the moment.
Cattle Finishing - How Have Higher Corn Prices Affected Feeding Cost of Gain?
Photo: Dr. Jenny Jennings, Texas A&M AgriLife Corn price futures for the July 2021 contract (December 2021 contract) increased from $4.68 per bushel ($4.31 per bushel) in early January to $6.56 ($5.57) for the week ending April 30. Moreover, using the iFarm Price Distribution Tool there was a 25 percent chance on May 4 that the expiration price for the December corn futures contract will be below $4.50 per bushel and a 25 percent chance that price will be above $6.50.
Kansas: Rural Areas Are ‘Mental Health Deserts’
Fluctuating commodity prices, weather challenges and other factors mean farmers are used to a certain amount of stress. But the pandemic in the past year added that much more, according to a Kansas State University behavioral health specialist.
Kentucky Hemp: Dealing with Powdery Mildew
Symptoms of powdery mildew on hemp include the presence of white, tan, or gray powdery fungal growth on the surface of leaves. Photo: Nicole Ward Gauthier, University of Kentucky Powdery mildew can affect numerous plants, including fruit, vegetable, and agronomic crops, as well as woody and herbaceous ornamentals. Kentucky hemp is also susceptible to this disease. Plants infected early in the season can be seriously damaged, while those affected later in the season may not be significantly harmed.
DTN Livestock Open: Cattle Futures Will Need to See Higher Cash
Texas A&M AgriLife Extension Service photo by Adam Russell Cattle futures were able to perform well despite higher grain futures. There is anticipation of higher cash developing this week, which has provided support. Hogs may have run out of aggressive sellers of futures and with the jump in hog prices Tuesday, traders may buy the break.
DTN Grain Open: Soybeans Press Higher, Unfazed by Report Day
Soybeans. ©Debra L Ferguson Stock Photography Pre-6 a.m. Globex Prices: July corn is up 1 1/2 cents, July soybeans are up 27 cents and July KC wheat is down 1 1/4 cents. CME Globex Recap: Early Wednesday, Dow Jones futures are trading lower after two days of lower closes. June crude oil is slightly higher, while the nation’s largest fuel pipeline remains closed due to a cyberattack. Traders will be watching the Labor Department’s report on consumer prices, due out at 7:30 a.m. CDT Wednesday.
Mississippi: Extension Extends Farm Stress Webinar
©Debra L Ferguson Stock Photography The Mississippi State University Extension Service PROMISE Initiative has two upcoming sessions in a webinar series that addresses farm stress, mental health and social structural issues affecting farmers and ranchers. The webinars will be held May 18 and June 15 at noon CST. They are part of the ongoing “R is for Rural and Resilient” series that began in November 2020.
Corn Prices Climb Nearly 50% in 2021
Wall Street Journal writers Ryan Dezember and Kirk Maltais reported on Monday that, “America’s biggest cash crop has rarely been more expensive. Corn prices have risen roughly 50% in 2021 and a bushel costs more than twice what it did a year ago.
Texas: Northeast Panhandle Wheat Field Day, May 18
Maturing wheat. Photo: Blair Fannin, Texas AgriLife Extension The Texas A&M AgriLife Extension Service offices in Ochiltree and Lipscomb counties will host a wheat field day on May 18 in Ochiltree County. Interested producers will gather at 10 a.m. at the Noon Vela Farm located 2.5 miles north of Farm-to-Market Road 759 on County Road 11. There is no cost for the field day.
DTN Livestock Close: Feeder Cattle Hold Onto Gains
Cattle feeding. Photo: ©Debra L Ferguson The feeder cattle complex stood its ground and defended its higher trade, even though the corn market closed modestly higher. GENERAL COMMENTS: Tuesday’s trade wasn’t kind to the lean hog market, but the cattle contracts had another strong day even though the corn market tried to pressure the contracts into trading lower early in the afternoon. Hog prices are unavailable on the National Direct Afternoon Hog Report due to technical issues at UDSA.
DTN Cotton Close: Lower, Traders Prep for Data
Cotton seedlings. ©Debra L Ferguson Stock Photography The cotton market was lower Tuesday, sometimes even by triple-digits, as traders squared positions ahead of Wednesday’s WASDE from USDA. In addition, the sharply lower stock market somewhat unnerved bullish traders. At one time Tuesday, the Dow Jones was off some 700 points USDA will release its supply-demand numbers for May Wednesday.
Kansas: 30 Counties Designated Natural Disaster Areas to Drought
©Debra L Ferguson Stock Photography This Secretarial natural disaster designation allows the United States Department of Agriculture (USDA) Farm Service Agency (FSA) to extend much-needed emergency credit to producers recovering from natural disasters through emergency loans. Emergency loans can be used to meet various recovery needs including the replacement of essential items such as equipment or livestock, reorganization of a farming operation or the refinance of certain debts.
USDA: Weekly National Peanut Prices
The following prices are effective from Wednesday 05/12/21 at 12:01 am Eastern Time until midnight Tuesday 05/18/21. The next announcement is scheduled for Tuesday 05/18/21 at 3:00 pm Eastern Time. * $424.55 per ton for Runner peanuts * $415.57 per ton for Spanish peanuts * $428.74 per ton for Valencia peanuts * $428.74 per ton for Virginia peanuts These NPP are based on the loan rates for 2020-crop peanuts announced on July 9, 2020.
DTN Grain Close: Corn, Soybean Futures Surge Again
Photo: Andrew Sawyer, University of Georgia July soybeans soared to a new contract high Tuesday and July corn challenged its high, before setting back. Expectations are for Wednesday’s May WASDE report to reflect a more bullish balance sheet for both old- and new-crop corn and beans.
Colorado: 63 Counties Designated Natural Disaster Areas to Drought
Texas A&M AgriLife photo by Dr. John Nielsen-Gammon This Secretarial natural disaster designation allows the United States Department of Agriculture (USDA) Farm Service Agency (FSA) to extend much-needed emergency credit to producers recovering from natural disasters through emergency loans. Emergency loans can be used to meet various recovery needs including the replacement of essential items such as equipment or livestock, reorganization of a farming operation or the refinance of certain debts.
DTN Cotton Open: Lower on Report, Weather Jitters
The cotton market is lower Tuesday as traders prepare for Wednesday’s WASDE for May. In addition, there are better chances for the Cotton Belt, at least from Texas to Georgia to expect decent rains. For Wednesday’s report, the average trade estimate calls for a 2021-22 cotton crop of 17.23 million bales. The range of guesses ranges from 15.50 million to 19.18 million bales. Exports are expected to come in at 15.39 million bales versus 15.75 million for 2020-21.
DTN Grain Open: Mixed Ahead of USDA Reports
Photo: Kevin Hudson, Mississippi State University Pre-6 a.m. CDT prices, CME Globex: July corn is up 1 1/4 cents, July soybeans are up 4 1/2 cents and July KC wheat is up 3 1/2 cents. CME Globex Recap: Early Tuesday, Dow Jones futures are trading lower with most overseas stock markets also lower. According to the Wall Street Journal, technology stocks are under pressure in the U.S. and China. European stocks are weighed down by inflation concerns.
DTN Livestock Open: Cattle Futures Expected to Extend Gains
Photo: Blair Fannin, Texas AgriLife Extension Significantly lower grain prices Monday spurred aggressive buying of cattle futures. Grain futures are not showing continued follow-through Tuesday. This may temper further aggressive buying of cattle futures. Hogs have seen lower prices for the past two days. Tuesday will be key to the extent of the price correction.
Ohio Corn: Growing Degree Days vs. Calendar Days - How Long Will Emergence Take?
When we examine crop emergence post-planting, two factors can impact speed of emergence – soil moisture content and soil temperatures. If soil temperatures are lower, it can take more calendar days for emergence to occur meaning rowing corn may take a little more time. In the Ohio Agronomy Guide, emergence should begin to occur after approximately 100 air GDDs. A difference in 10 degrees in temperature can dramatically affect how quickly crops will emerge.
Ag Trade: Groups Seek Federal Intervention Against Unfair Ocean Carriers - DTN
Container ships, San Francisco Bay. Photo: NOAA Specialty Soya and Grains Alliance (SSGA), on their website, recently wrote that, “For more than six months, U.S. ag exporters, including SSGA members who supply Identity Preserved (IP) soya and specialty grains for food manufacture, have suffered under unreasonable practices by ocean carriers.
Soybeans: ADM to Build First Crush Plant in North Dakota - DTN
©Debra L Ferguson Stock Photography Archer Daniels Midland announced on Monday plans to build the first soybean-crushing plant in North Dakota after previous attempts by another company to launch a similar project fell through. ADM announced in a news release plans to build a $350 million crush and refining complex in Spiritwood, North Dakota, expected to be online by the first quarter of 2022.
Florida: Liming Material Options for Crop, Forage Production
Lime application to crop field. Photo: University of Florida If your soil pH is too acidic (many crops and forages perform better at a soil pH above 5.5), then you should consider applying a liming material. There are two major parameters to check for an effective liming material: Purity (calcium carbonate equivalent, CCE). Speed of reaction (particle size distribution) The CCE standard is set at 100 (pure calcite).
DTN Livestock Midday: Feeder Cattle and Corn Keep Going Rounds
Cattle feed lot. Photo: K-State Research and Extension - Creative Commons The feeder cattle contracts were trying to keep their head above water and stand their ground, but the corn market’s rally simply grew to be too strong. GENERAL COMMENTS: The livestock complex heads into Tuesday’s afternoon mixed as the market has support and pressure stemming from many different angles in the various contracts.
DTN Grain Midday: Corn, Soybeans Up Double Digits
Soybeans emerging from cover crop residue. Photo: Jason Johnson, NRCS Corn is 14 to 16 cents higher with new crop 3 to 4 cents higher, soybeans are 30 to 33 cents higher with new crop 16 to 18 cents higher and wheat 7 to 15 cents higher. CORN: Corn trade is 14 to 16 cents higher on the front months, with new crop 3 to 4 cents higher as trade comes off early selling to work higher after the washout Monday; volatile trade is likely to continue near term.
DTN Livestock Close: Break in Corn Prices Allows Cattle to Move Higher
Photo: Blair Fannin, Texas AgriLife Extension The cattle contracts enjoyed the day and closed fully higher as a break in the corn market’s rally took the pressure of higher input costs off the cattle market. GENERAL COMMENTS: It was a great day for the cattle contracts as a surprising break in the corn market’s rally allowed for the cattle contracts to close higher.
DTN Cotton Close: Lower on Weather, Grains Decline
Cotton seedlings. ©Debra L Ferguson Stock Photography The cotton market was smartly lower Monday as the updated weather forecast continues to show improved chances for rain in the West Texas area. The 6- to 10-day outlook has more rain in its forecast. However, cotton is a highly water responsive crop and sometimes a bit of rain can do more damage than good. Another negative for cotton Monday was the big retreat over in the Chicago grain futures.
DTN Grain Close: Prices Lower With Rain in Forecast
September Minneapolis wheat fell 44 1/2 cents, the largest percentage loser among Monday’s grain contracts after the northwestern Plains received some rain over the weekend and shows more expected in next week’s forecast. December corn and November soybeans also suffered double-digit losses after rain fell across the Midwest over the weekend. GENERAL COMMENTS: July corn closed down 20 1/2 cents and December corn was down 27 1/4 cents.
Mississippi: Low Broadband Access Hinders Modern Producers
From computer programs that regulate moisture sensors to smartphone apps that allow growers to monitor market data, most facets of agriculture continue their shift to digital platforms. This transition makes reliable internet access no longer a luxury, but a necessity. Despite Mississippi agriculture’s annual economic impact of around $7 billion, broadband infrastructure is in short supply in the state’s densest agricultural hub: the 19-county Mississippi Delta.
Thompson on Cotton: High Grain Prices Causes Acreage Shifts
Cotton planter in residue. Photo: Alabama Cooperative Extension In recent weeks, the battle between grain and cotton prices resembles that of the race between the tortoise and the hare. Corn and soybeans traveling at warp speed have left cotton in their dust. Such was the case last week with a slow start and December futures rallying late to close at 86.89 for a weekly gain of almost two cents. This is an increase of nearly 15 percent over the past three months for cotton.
Ag Trade: China Makes 5th Largest Purchase of U.S. Corn, Brazil Soy Exports Hit Monthly Record
Bloomberg writers Breanna T Bradham, Michael Hirtzer, and Dominic Carey reported on Friday that, “China made one of its biggest purchases of corn in U.S. history, a sign that its buying spree of grain off of world markets isn’t over. “The Asian country bought 1.36 million metric tons for the marketing year that begins Sept. 1, according to the U.S. Department of Agriculture.
DTN Livestock Midday: Weaker Corn Prices Give Cattle Contracts Hope
Monday’s weaker corn prices are just wanting the cattle contracts wanted to see, especially the feeder cattle contracts. GENERAL COMMENTS: Monday’s pressure on the corn contracts has come as a beaming hope of joy for the feeder cattle contracts. Both the live and feeder cattle contracts are rallying into Monday’s afternoon trade, but the feeder cattle contracts are making the most of the day’s opportunity and are trading upward of $3.00 higher.
DTN Grain Midday: Wheat Futures Deep in the Red
Young wheat field. Photo: Dennis Pennington, Michigan State University Corn is 9 to 11 cents lower with new crop 18 to 20 cents lower, soybeans are 1 to 3 cents lower with new crop 16 to 18 cents higher and wheat 25 to 35 cents lower. MARKET SUMMARY: The U.S. stock market is mixed with the Dow up 310 points. The U.S. Dollar Index is 0.08 lower. Interest rate products are mostly higher. Energies are narrowly mixed with crude down $0.30. Livestock trade is mixed with cattle leading.
DTN Cotton Open: Lower on Rain Forecasts
Texas no-till cotton in corn residue. Photo: Larry Stalcup, AgFax Media The cotton market is starting off this new week lower. Traders are eyeing several weather forecasts, which call for some rain to fall across west Texas. That precipitation potential is evident in the six-to-10 day but enhanced in the longer-term eight- to 14-day outlook. Additionally, the cotton market is weak in conjunction with the retreating Chicago grains.
DTN Livestock Open: Lower Grain Futures May Provide Support
There may be little to get traders excited about in the cattle markets to begin the week. However, a futures base has been built over the past two weeks which may provide solid support. It is difficult to say which way hogs will go Monday. The weakness in closer months might be short-lived if the pattern of the past few months remains intact.
DTN Grain Open: Markets in Early Modest Retreat
Pre-6 a.m. CDT prices, CME Globex: July corn is down 6 1/4 cents, July soybeans are down 5 1/4 cents and July KC wheat is down 11 cents. CME Globex Recap: Early Monday, Dow Jones futures are trading a little higher with European markets mostly steady. Friday’s report from the Labor Department showed nonfarm payrolls up 266,000 in March, a far cry from the 1 million expected. COVID-19 cases in India remain a global concern, but June crude oil is slightly higher and not far from its high of 2021.
AgFax Weekend: Commodity Price Spike - What Happened?
AgFax Weekend: Commodity Price Spike – What Happened? May 7, 2021May 7, 2021 AgFax Staff Container ships, San Francisco Bay. Photo: NOAA
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