Mar. corn closed at $3.77 and 3/4, down 3/4 cent Jan. soybeans closed at $8.84, down 3/4 cent Jan. soybean meal closed at $307.50, up $1.90 Jan. soybean oil closed at 27.74, down 15 points Mar. wheat closed at $5.16 and 1/2, up 1 and 1/2 cents Dec. live cattle closed at $120.87, unchanged Feb. lean hogs closed at $60.30, down 82 cents Jan. crude oil closed at $42.53, down …
Category: Ag News
Auto Added by WPeMatico
Dec 24
Some USDA services to continue during shutdown
Some USDA services will continue during the shutdown of the federal government. For the first week, 61% of staff will be excepted or exempted from shutdown activities, with that number falling as funding decreases. Meat, poultry, and processed egg inspections will continue, along with the inspection of grains and other commodities, and import and export …
Dec 24
The big ag stories of 2018 – Part 1
Trade wars. Tariffs. And Market Facilitation Payments. In this Managing for Profit, ag economist David Widmar recaps some of the top issues the ag sector faced in 2018 and how it played a role in farmers profitability. AUDIO: Managing for Profit, David Widmar – Year In Review Part 1 Continue reading The big ag stories …
Dec 21
2018 food prices unchanged to slightly higher
The USDA projects 2018 food prices will be steady to one percent higher. Analyst Annemarie Kuhns says there have been price hikes for beef, fish, eggs, fresh fruits and veggies, but that’s not the case for dairy. “We’re fairly certain dairy products will decrease in price,” said Kuhns, in comments provided by the USDA. “We’re …
Dec 21
Cheese in cold storage sets another monthly record
Another month, another record amount of cheese in cold storage. The USDA says total natural cheese supplies at the end of November were a new monthly record at 1.4 billion pounds. That’s 4% above last year as high milk production levels and export competition continue to impact demand. American cheese was up 10% on the …
Dec 21
‘The renewal season on the brink’
The first two months of the new year are farm loan renewal time, when farmers and their ag lenders meet to discuss finances and the renewing of ag loans for another season. Virginia Tech ag economist Dr. David Kohl says there will likely be some tough discussions taking place. “I call it ‘the renewal season …
Dec 21
Chinese officials visit Iowa to learn more about ethanol
A leading grain bin manufacturer recently welcomed a Chinese delegation interested in ethanol. Steve Sukup, CFO of northern Iowa-based Sukup Manufacturing, says China is looking for ways to reduce air emissions, and ethanol offers a cleaner burning fuel. “I think the sky’s the limit if they really get onto the ethanol market. In the U.S. …
Dec 21
Is price ratio enough to increase corn acres?
Not every financial indicator points to more corn and less soybeans in 2019. University of Minnesota Extension soybean agronomist Seth Naeve says the prevailing thought is soybeans won’t be as profitable mostly because of the trade dispute with China. “On the other hand, we have the more urgent issue (of) just getting the resources to …
Dec 21
New farm bill provides more ARC-PLC flexibility
The new farm bill signed by President Trump gives farmers more flexibility in deciding between the Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC) programs. Iowa State University farm management specialist Steve Johnson says the first decision will be made next summer. “I would guess most farmers are going to come back to PLC …
Dec 21
MFP payments WILL still go out if there’s a government shutdown
The USDA has confirmed that Market Facilitation Program payments will still go out to farmers if the federal government shuts down after midnight. President Trump authorized the second round of payments on Monday. FSA County Offices will begin processing payments TODAY, but it will take a few days after processing for producers to receive funds. If …