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Articles by Palmer amaranth
Will new Florida gun law be Armageddon?
July 1 is fast approaching: the dreaded day when House Bill 543, overwhelmingly passed by the Florida House of Representatives by a vote of 76-32 and signed into law by Gov. DeSantis— goes into effect. For the unknowing, HB 543 affirms the Constitutional right of every Floridian not otherwise barred from owning a handgun, to carry one in public without a permit. We’ve all heard the hype and the doom-and-gloomers dolefully predicting unbridled carnage, but what is REALLY going to happen?
Grain Markets: Dissecting Seasonal Patterns - DTN
Grain elevator and train at Canton, Kansas Photo: K-State Research and Extension - Creative Commons On the Plains of South Dakota, where I’m writing this column, spring looks as far away as it has all winter. At last check, the National Weather Service said the Upper Midwest has 84.9% of its area covered by snow at an average depth of 5.4 inches. Admittedly, this is better than conditions a year ago when the Upper Midwest was covered by an average depth of 12.8 inches.
DTN Grain Close: Wheat Prices Fall Back in Quiet Trading
Photo: Kansas State University July contracts of all three wheats were lower Friday with Chicago down 6 cents and Minneapolis down 5 3/4 cents. Trading volume was light in corn and soybeans as traders largely ignored weather concerns on Friday and opted to wait for Sunday night. Midday: Soybeans are the midday leader in mixed quiet trade. CORN Corn trade is 1 to 2 cents lower with trade giving back early gains to test support before firming back towards flat heading towards the week.
DTN Grain Midday: Broad Selling Returns
©Debra L Ferguson Stock Photography Fresh lows for grains with broad selling returning during the day session. CORN Corn trade is 2 to 3 cents lower at midday with fresh lows being scored as fund selling returned this morning after initially positive trade. The short-fund position is pushing towards 350,000 short with the action so far this week.
DTN Cotton Open: Treads Sideways, Awaits Exports-Sales
©Debra L Ferguson Stock Images The cotton market was slightly lower overnight, weakened by deliveries against spot May, plus a lack of new bullish news. Even in the face of nearly record-high stock market closings, cotton futures struggled Tuesday. There were 114 notices delivered, all issued by SG Americas. Most were stopped by Term Commodities, and the balance was spread out to three other trade houses.
DTN Livestock Open: Technical Pressure Likely in Morning Hog Trade
Photo: United Soybean Board Limited interest is expected in cattle futures early Wednesday as traders continue to hold prices in a narrow-to-moderate range. Early follow-through pressure is likely in hog trade, although the potential for short-covering is quickly developing.
DTN Grain Open: Mixed as Bulls Continue Grasping at Straws
Young corn rows. ©Debra L Ferguson 6:00 a.m. CME Globex: May corn is up 3/4 cents per bushel, May soybeans are up 3 cents, and July K.C. wheat is down 3 3/4 cents. CME Globex Recap: Equity markets will be mixed to higher Wednesday following all-time highs in U.S. benchmarks on Tuesday. Investors have taken solace in the more dovish stance from the Federal Reserve in 2019 versus the one seen in most of 2018.
DTN Livestock Close: Hog Futures Continue Lower
Photo: Soybean Checkoff Pressure in lean hog trade continued to develop late Tuesday. Despite a midday bounce higher, the weakness in the complex quickly eroded any buyer activity that attempted to move into the market. GENERAL COMMENTS: Firm pressure seen in lean hog trade quickly pushed prices lower in nearby trade. This offset a midday rally that was unable to hold, causing concerns of further losses. Cattle markets remain mixed in limited activity. Corn futures are lower in light trade.
Lorsban: EPA to Revisit Chlorpyrifos Petition - DTN
Mid-season spray application in soybean field. ©Debra L Ferguson Stock Photography The EPA has until July 18 to address objections to its 2007 decision to reject a petition asking the agency to ban chlorpyrifos, as a result of an order issued on Friday by the U.S. Court of Appeals for the Ninth Circuit in San Francisco. The order came after a hearing before all of the judges of the Ninth Circuit on March 26, 2019.
Farming: Engaged Employees are 21% More Productive - DTN
Texas A&M AgriLife Extension Service photo When it comes to improving performance and retaining top talent in our competitive landscape, employee engagement needs to be one of your farm’s top initiatives. An engaged employee is 21% more productive than a less-engaged employee and a highly engaged employee is 87% less likely to leave the organization. High levels of energy, commitment and performance from our employees lead to an increased bottom line.
DTN Cotton Close: Market Tumbles Early
©Debra L Ferguson Stock Photography The cotton market nearly fell out of control Tuesday by posting early triple-digit losses. As we like to say a bull market needs a daily dose of bullish information to trade higher, just as a real bull needs to eat daily rations to survive. There was virtually no friendly news out Tuesday.
DTN Grain Close: Soybeans Take a Turn Sliding to New Lows
Photo: Kevin Hudson, Mississippi State University Both old-crop and new-crop soybean prices fell to their lowest closes in seven months Tuesday, succumbing to noncommercial selling and concerns about record ending supplies. July corn fell 3 1/4 cents lower while all three wheats negotiated small gains for the day. Midday: Corn and soybeans score fresh lows, with wheat mixed. CORN Corn trade is 3 to 5 cents lower with trade score fresh lows with fund selling building over the course of the session.
Distillers Grains: Demand Slows, Spillover Pressure from Corn - DTN
Large Pile of Dried Distillers Grains (DDGS) at Golden Grain Energy in Mason City, Iowa. Photo: Iowa Renewable Fuels Association The domestic distillers dried grains (DDG) average spot price from the 40 locations DTN contacted was down 5 cents at $134 per ton for the week ended April 18, versus the prior week. Spot DDG truck prices were lower as demand has slowed, along with added pressure coming from continued weakness in the corn market.
DTN Grain Midday: Corn, Soybeans Move Lower
©Debra L Ferguson Stock Images Corn and soybeans score fresh lows, with wheat mixed. CORN Corn trade is 3 to 5 cents lower with trade score fresh lows with fund selling building over the course of the session. The short-fund position is pushing towards 340,000 short or more with the fresh action this morning. The forecast should allow for better progress in much of the Belt this week with the north remaining slowest, and a potentially wetter start to May.
DTN Livestock Midday: Buyers Push Hog Prices Higher
Photo: United Soybean Board Hog futures quickly turned around midmorning as sharp triple digit losses quickly ran out of gas, leaving buyers an open door to move back into the complex. General Comments Firm buyer support moved back into lean hog trade following aggressive triple-digit losses during early trade. This may help to rebound hog futures through the end of the week. Cattle trade is mixed in a narrowly mixed range. Corn futures are lower in light trade.
DTN Cotton Open: Sharply Lower on “Gravity”
The market is lower Tuesday in obedience to the gravitational laws of what goes up, must come down. Since mid-February, the market has sustained a 6-cent rally with little correction. Part of that rally was caused by the hopes for a trade deal, and the other was the low intentions number issued by USDA. Yet as of now, there is no trade deal, and the crop is being planted on a normal pace. To the latter, the crop stands at 9% planted compared to 10% same time last year, and 9% on its five-year pace.
DTN Grain Open: Weaker as Planters Roll, Funds Extend Shorts
©Debra L Ferguson Stock Images 6:00 a.m. CME Globex: May corn is down 2 cents per bushel, May soybeans are down 1/2 cent, and July K.C. wheat is down 2 3/4 cents. CME Globex Recap: Global equity markets are lightly mixed Tuesday as crude oil continues its march higher. Overnight, crude oil climbed to its highest level since Oct. 31 as traders raise concerns about supply as the Trump administration demands zero imports of Iranian oil by any country.
DTN Livestock Open: Early-Week Pressure Likely to Continue
Strong triple-digit losses Monday is likely to limit buyer support early in the Tuesday session. This could leave markets lightly traded, bringing additional volatility to the complex.
DTN Cotton Close: Bobbles Higher on Low Volume
Photo: Texas AgriLife Extension The cotton market traded both sides of unchanged Tuesday, but eventually settled slightly higher. Volume was quite low in comparison to recent sessions. The market continues to watch the 2019 planting season unfold, as well as awaiting any final developments on the U.S.-China trade negotiations. Regarding 2019 plantings, USDA will, at 4 p.m. Monday, release its latest planting data estimates.
DTN Grain Close: Corn, Wheat Slide to New Lows
©Debra L Ferguson Stock Images Both old-crop and new-crop corn prices along with two of the three July wheat contracts fell to new contract lows on Monday as spring weather starts to look a little more favorable in 2019. May soybeans were also lower with ongoing concerns of record ending stocks. Midday: Wheat is the downside leader at midday; some follow-though selling is noted.
DTN Livestock Midday: Losses Sweep Through Complex
Firm pressure has quickly developed Monday morning with cattle and hog futures holding triple digit losses. There continue to be increased weakness through the entire complex, although volume remains sluggish. General Comments Strong early week losses have quickly developed through all livestock trade with traders pulling away from previous gains seen last week. Concerns of growing beef supplies and uncertain China demand has sparked triple digit losses. Corn futures are lower in light trade.
DTN Grain Midday: Some Follow-Through Selling
©Debra L Ferguson Stock Photography Wheat is the downside leader at midday; some follow-though selling is noted. CORN Corn trade is 2 to 3 cents lower at midday with trade back to test the contract lows again as we return from Easter weekend that contained warmer weather. There is little fresh news today. The continued fund selling was seen on the CFTC weekly report after the conclusion of trade last week. The record net fund short is now thought to be over 330,000.
DTN Cotton Open: Higher on Technicals
©Debra L Ferguson Stock Images The market is higher Monday morning as tenacious technicals are encouraging buyers to increase their holdings. Most publicly accepted technical indicators, such as moving averages and stochastics are giving off positive readings. Those setups, in conjunction with cotton’s seasonal tendency to swing higher into spring, is keeping the market glued together. Yet, beside the friendly appearing charts, there remains hope a U.S.-China trade deal will soon be a reality.
DTN Grain Open: Weaker as Planting Progress, Trade Remain Focus
Corn planter in field. Photo: Mississippi State University 6:00 a.m. CME Globex: May corn is down 1 1/2 cents per bushel, May soybeans are down 1 1/4 cents, and July K.C. wheat is down 3 3/4 cents. CME Globex Recap: Equity markets are mixed to weaker Monday morning with parts of the world still on holiday for Easter Monday. Lots of focus on trade this week with U.S.-Japan trade talks resuming as well as investors awaiting confirmation U.S.-China trade talks will take place next week as scheduled.
DTN Livestock Open: Mixed Trade Expected
©Debra L Ferguson Stock Photography Light trade volume and limited direction is expected as traders slowly move back into the complex following the long holiday break. Cattle traders have Thursday’s Cattle on Feed report to trade on during early-morning activity.
DTN Livestock Close: Futures Mixed in Quiet Trade
©Debra L Ferguson Stock Photography Livestock futures ended mixed in quiet trade Thursday ahead of the long holiday weekend. Increased cattle placements and more cattle in feed yards detailed in Thursday’s USDA Cattle on Feed report may affect market direction early next week. GENERAL COMMENTS: Livestock futures ended mixed Thursday in light trade, leaving traders to ponder further directional shifts early next week.
Farm Taxes and Vehicle Depreciation - What are the Rules? - DTN
I’m writing this article as my “break” from reviewing tax returns. Let me tell you, this has been a challenging year! Between new tax laws, new tax forms and certain states’ nonconformity, this will go down as a top-five-worst tax season. I was going to write on some of the top issues I’ve seen, but I’ll wait for a future column. What I’d like to touch on in this column are vehicles.
DTN Cotton Close: Taps Down on Strong Volume
Photo: Blair Fannin, Texas AgriLife Extension Cotton remained directionless Thursday as its awaits any market-moving news from the U.S./China trade talks. Those talks will end Thursday with most likely another meeting planned in February, probably in China. However, President Trump is scheduled to meet with China’s top negotiator Thursday afternoon at 4 p.m. The only factual news that the cotton market saw Thursday was from USDA’s weekly sales and exports report.
DTN Grain Close: Lower as Trade Talks Continue, U.S. Dollar Rebounds
©Debra L Ferguson Stock Images March contracts of corn, soybeans and all three wheats finished lower Thursday as trade talks with China continued without official announcement. Adding pressure to grain prices, the March U.S. dollar index is trading higher just one day after the Federal Reserve said it would be patient about interest rate adjustments. Midday: Corn is the downside leader at midday.
DTN Livestock Midday: Futures Shift Lower
Photo: Adam Russell, Texas A&M AgriLife Extension Service Active pressure has continued to develop through all livestock trade with live cattle and lean hog futures posting triple-digit losses Thursday morning. General Comments Livestock futures trade has moved sharply lower, allowing for increased underlying pressure in live cattle and lean hog markets. April live cattle and lean hog trade have posted triple-digit losses, as traders adjust positions at the end of the month.
DTN Grain Midday: Trade Continues Weaker
Corn is the downside leader at midday. CORN Corn trade is 3-4 cents lower at midday with yesterday’s strength evaporating during the day session as we fall back to the lower end of the range. The trade is focused on USDA numbers expected next week and no major changes in South American weather. Ethanol margins remain poor, with futures remaining near the lows, while blender margins are getting a boost from the strength in unleaded. Basis has remained flat to firmer with weather slowing movement.
Iowa Ethanol Industry’s Fate Tied to Year-Round E15 - DTN
Photo: ©Debra L Ferguson Andrew Wheeler, EPA’s acting administrator, wasn’t at the Iowa Renewable Fuels on Tuesday, but he was the focus of the industry’s outlook on multiple fronts. At the Iowa Renewable Fuels Association booth was an oversized poster-card letter to Wheeler, calling on EPA to complete the rules for year-round E15, as well as stop the small-refinery exemptions that the ethanol industry sees gouging biofuel demand.
DTN Cotton Open: Slightly Up on Trade Talk Hopes
The cotton market is slightly elevated Thursday morning as it awaits any development from the two-day talks between the U.S. and China. President Trump is scheduled meet with China’s top negotiator Vice-Premier Lui He. USDA released some back-logged sales and exports data this morning. Today’s numbers reflect business done the week ending December 20, 2018.
DTN Livestock Open: Limited End-of-Month Trade Activity Expected
Texas A&M AgriLife Extension Service photo by Adam Russell Livestock futures are expected to limp into month end with light volume likely through most of the session. Traders still are placing some attention on weather conditions and how this may impact production levels, but outside markets will play a more significant role in price shifts Thursday.
DTN Grain Open: Mixed as Interest Rates Buoy, Export Sales Data Eyed
©Debra L Ferguson Stock Images 6:00 a.m. CME Globex: March corn is down 1/2 cents per bushel, March soybeans are up 2 1/2 cents, and March K.C. wheat is down 1 3/4 cents. CME Globex Recap: Global equities are mostly higher following an about-face by the U.S. Federal Reserve Wednesday with regard to interest rate policy. Comments from The Fed seemed to suggest a halt to the raising of interest rates and even a willingness to curb its balance sheet reduction program if necessary.
DTN Livestock Close: Narrow Shifts Limit Market Direction
©Debra L Ferguson Stock Photography Lack of price movement late Wednesday kept traders unwilling to step back into the market. Prices were mixed, moving in a narrow range. GENERAL COMMENTS: Livestock futures moved in a narrow range Wednesday afternoon with lean hogs backing away from firm early gains and feeder cattle moving off of moderate initial losses. The tepid market temperature was in sharp contrast to the frigid winter blast that engulfed much of the Midwest on Wednesday.
DTN Cotton Close: Remains Stagnant, Awaits Trade News
Cotton picker harvest view. Photo: Nick McMichen The cotton market settled the day slightly higher, as it has several items on its trading plate. First is the U.S./China trade meeting. As of this writing, there has been no serious word on how the current talks are faring. We understand that President Trump will meet with China’s top negotiator Lui He on Thursday as an expression of America’s sincerity and seriousness on finding common ground. The Federal Reserve announced unchanged rates for January.
DTN Grain Close: Prices Firm in Frigid Weather
On-farm grain bin system. ©Debra L Ferguson Grains traded mixed most of the session, but by the close March contracts of corn, soybeans and all three wheats were a little higher. April cattle pushed to a new contract high as livestock are encountering obvious stress. Midday: Narrowly mixed trade is seen across the board at midday. CORN Corn trade is 2 cents higher at midday; trade has been nearly 4 higher to fractionally higher since the opening bell last night. Momentum is flat at midday.
DTN Livestock Midday: Mixed Trade Keeps Volume Light
Extremely sluggish market activity is seen Wednesday as traders continue to focus on cold weather through most of the production areas. This is limiting overall direction of the market, allowing mixed prices in a narrow range. General Comments Livestock futures are mixed in narrow trading ranges at midday following limited volume through the entire morning.
DTN Grain Midday: More Mixed Trade
©Debra L Ferguson Stock Images Narrowly mixed trade is seen across the board at midday. CORN Corn trade is 2 cents higher at midday; trade has been nearly 4 higher to fractionally higher since the opening bell last night. Momentum is flat at midday. The trade is focused on USDA numbers expected next week and no major changes in South American weather. Many central and eastern parts of the nation are dealing with the extreme cold so many people are not watching the markets much today.
DTN Cotton Open: Market Nervously Unchanged
Photo: USDA The cotton market seesawed all night from positive to negative as it awaits any insight from this week’s trade talks. Negotiators from the U.S. and China are literally meeting next door to the White House to continue their conversations on trade issues. Unfortunately, various news reports and opinion articles suggest a resolution is unlikely this week.
DTN Livestock Open: Weather Conditions Take Priority
Limited early-market activity is expected with traders focusing on the impact of the extreme cold weather moving through most of the country that will impact all areas of livestock production.
DTN Grain Open: Firmer on Back-Logged Data, China Talks
©Debra L Ferguson Stock Images 6:00 a.m. CME Globex: March corn is up 1 1/2 cents per bushel, March soybeans are up 1 1/4 cents, and March K.C. wheat is up 1 1/2 cents. CME Globex Recap: Global equity markets are mostly quiet as the next round of U.S.-China trade talks get set to begin later Wednesday. The Trump Administration seems to be mixing in positive comments with negative ones so as to not set expectations too high. Many have noted a deal before the March 1 deadline isn’t likely.
DTN Livestock Close: Traders Shoot for Stability
Livestock markets stabilized Tuesday with futures prices mixed to higher across the complex. Follow-through support trickled into live cattle trade, resulting in new contract highs. GENERAL COMMENTS: Light support trickled into several nearby lean hog futures contracts Tuesday, ending the aggressive market liquidation seen over the last week. April and May contracts ended 10 to 20 cents per cwt higher.
Soybean Oil Prices: Major Trends that Could Help or Hurt - DTN
©Debra L Ferguson Stock Photography At the end of November 2018, I laid out what I thought looked like bullish arguments for soybean oil prices. Read “Soybean Oil, Ripe for Bullish Change” here. Fundamentally speaking, the article cited recent changes for soybean oil, such as a new mandate in Brazil, which starts in March 2018 and requires an 11% blend of biodiesel. New tariffs in the U.S. are offering competitive protection from Argentina and Indonesia.
DTN Cotton Close: Wobbles, but Finishes Higher
Photo: Jourdan Bell, Texas A&M AgriLife On the eve of the trade talks with China, the cotton market traded both sides of unchanged, before settling fractionally higher. Earlier Tuesday there were concerns the market might sell-off on the news the U.S. Justice Department was going to prosecute the CFO of Huawei. She was arrested in Canada a few months ago and extradited to the U.S. Perhaps in a reflection of turnaround Tuesday, the market finished up-on-the-day to counteract Monday’s lower close.
DTN Grain Close: Markets Miss General Commodity Rally
The Port of Rosedale - Rosedale, Mississippi - Mississippi River ©Debra L Ferguson Stock Photography Except for softs and grains, most commodities rallied higher Tuesday with help from a modest gain in the stock market. March contracts of corn, soybeans and all three wheats finished lower however, with most contracts stuck in sideways ranges. Midday: Weaker trade across the board at midday. CORN Corn trade is 2 to 3 cents lower at midday with trade fading back into support at midday.
Grain Shipping: St. Lawrence Seaway Tonnage Increased 7% - DTN
St. Lawrence River Lock. Photo: Stock Photography In a press release on Jan. 17, 2019, the Great Lakes Seaway Partnership noted that, “With total cargo shipments of 40.9 million metric tons during the 2018 navigation season, St. Lawrence Seaway traffic increased nearly 7% year-over-year.
Irrigation: Variable-Frequency Drives Save Energy and Money - DTN
Irrigation pivot in corn. ©Debra L Ferguson Stock Photography B.J. Wilkerson has his hands full overseeing 2,000 acres of irrigated corn and peanut production in addition to running a 700-head cow herd near Trenton, Florida. With 33 center-pivot sprinklers pumping groundwater for the crops, anything he can do to save time and money is sure to get his attention.
DTN Cotton Close: Higher Finish Caps Bearish Week
December cotton closed moderately higher as end-of-the-week buying and short-covering took prices back above the 7900 mark. For the week, December cotton was down 270 points. The bearish week was initially characterized by more trade war salvos fired on Monday by the Trump Administration, with retaliation from China. The market then exited its multi-week consolation pattern to the downside, causing a flood of speculative selling.
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