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Brownfield Network 10/14/2019 17:54
A University of Illinois economist says the weekend Midwest freeze and the blizzard in the Dakotas might bring more recovery to the corn market. Scott Irwin tells Brownfield, “From a market standpoint, I like holding pat for now because, I’m thinking, you know, my estimates suggest that this may have knocked back U.S. corn production about a quarter of a billion bushels, and I think that’s probably close to the minimum damage.”Irwin says farmers who can hold their corn probably should for now.
Brownfield Network 10/14/2019 16:57
At the Chicago Mercantile Exchange, live cattle ended the day higher on expectations that the higher cash trade will carry over into this week. Feeder cattle futures were higher on the same factors with additional support from the day’s weaker move in corn. October live cattle closed $1.17 at $110.62 and December live cattle closed $1.30 higher at $113.45. October feeder cattle closed $1.45 higher at $145.55 and November feeder cattle closed $1.82 higher at $146.07.
Brownfield Network 10/14/2019 16:06
Milk futures and cash dairy prices were mixed on the Chicago Mercantile Exchange Monday. October Class III milk was down $.05 at $18.59. November was down $.09 at $18.62. December was up $.07 at $17.95. January was up $.05 at 17.15. The milk futures from February through next September ranged from zero to six cents higher. Dry whey was down $.0050 at $.2975 cents per pound. Seven sales were recorded from $.2975 to $.3000.
Brownfield Network 10/14/2019 16:03
Dec. corn closed at $3.97 and 3/4, unchanged Nov. soybeans closed at $9.40 and 1/2, up 4 and 1/2 cents Oct. soybean meal closed at $306.00, down 90 cents Oct. soybean oil closed at 29.90, up 7 points Dec. wheat closed at $5.11, up 3 cents Oct. live cattle closed at $110.62, up $1.17 Oct. lean hogs closed at $63.07, up 15 cents Nov. crude oil closed at $53.59, down $1.11 Dec.
Brownfield Network 10/14/2019 15:50
The weekend weather brought frost to much of Wisconsin and the upper Midwest. William Wynn is an agronomist with DuPont Pioneer in Wisconsin, and says, “I think it’s safe to say that the 2019 growing season is pretty much over.”Wynn tells Brownfield many farmers in the southern third of the state had a good year with soybeans. “In southern Wisconsin, we’re looking at 20-25 percent of the soybean harvest already completed with yields averaging right around that 55-bushel mark, so definitely some light at the end of the tunnel and some positive things to pull out of 2019 here.”And Wynn says a lot of farmers will be forced to dry corn this year.
Brownfield Network 10/14/2019 15:44
Soybeans were modestly higher on short covering and technical buying. China says it wants additional talks before signing phase one of the trade pact, no tariffs were removed during this last round of negotiations, and new U.S. tariffs could go into effect in December 15th. More Chinese purchases of U.S. ag goods have been rumored, but nothing has been confirmed, with some USDA agencies closed Monday for Columbus Day. China’s General Administration of Customs says soybean imports during September were 8.2 million tons, compared to 9.48 million in August and 8.01 million in September 2018.
Brownfield Network 10/14/2019 14:03
The Ohio Soybean Council and. soybean checkoff has launched Airable Research Lab, a business model to utilize. current research and find new uses for soy-based products. Barry McGraw is the director of. research and development for the Ohio Soybean Council and CEO of the Airable Research. Lab. "In the past, the Ohio Soybean Council has a really good track record of working with research and development companies but one gap we saw was coming up with our own ideas, our own intellectual property, our own patenting and commercialization," he says.
Brownfield Network 10/14/2019 13:33
An agronomist says variability best describes Missouri’s crop season this year, "Based off of different planting date and different weather conditions and what has transpired over the course of the growing season," says Jody Foutch with Dekalb/Asgrow. Foutch says there’s a long way to go before shelling of June. planted corn, "I do think there was plenty of stress on that throughout the. growing season.".
Brownfield Network 10/14/2019 12:58
Direct cash cattle trade is typically quiet for a Monday. Bids and asking prices have yet to be established. It’s likely significant trade volume will be delayed until midweek or later. Business waited to develop until Friday afternoon across cattle country. Trade started in the North with a full range of $170 to $172, mostly at $172, which is about $2 higher than the previous week’s weighted average basis in Nebraska. Southern live business waited until late in the day with live deals ranging from $108 to $109, $1 to $3 higher than the prior week’s weighted averages.
Brownfield Network 10/14/2019 12:56
A plant pathologist says overall, the Illinois pumpkin crop. looks good this year despite a late start. Mohammad Babadoost with the University of Illinois tells Brownfield given the wet spring they expected a poor crop, but pumpkins harvested for processing ended with more flesh than water because of dryer summer conditions, making them higher quality. "It was better than expected from the beginning.
Brownfield Network 10/14/2019 12:45
Corn and soybean markets were narrowly mixed this morning as analysts tried to assess crop damage that may result from this weekend’s snowstorm over the Northern Plains and hard freeze over much of the Midwest. Market analyst. Arlan Suderman with INTL FCStone says yields will no doubt be impacted. "Academic data (on. freeze damage) would suggest we could be looking at several hundred million. bushels of corn loss.
Brownfield Network 10/14/2019 12:40
The US and China have reached. a fundamental agreement in principle for an initial trade deal, but Chinese. officials reportedly want another round of talks before signing the first phase. of the deal. Treasury Secretary Steven. Mnuchin says officials will work closely in the next few weeks to get to a. signing in Chile when President Trump and Chinese President Xi are expected to. meet at an economic summit. Mnuchin says more tariffs. will be implemented in December if a deal isn’t reached.

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