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EPA news affected the crop markets on Friday

EPA news affected the crop markets Friday. Corn continued recovering from fresh 2015 lows Thursday night, with pragmatic and technical buying before the weekend seeming to power gains. However, the EPA released its long-awaited interpretations of Congress’s “Renewable Fuels Mandate” at midmorning; those were seen as being somewhat bearish for corn, which pushed prices modestly lower. July corn futures settled 2.0 cents lower at $3.515/bushel Friday afternoon, while December lost 2.0 to $3.68.

News

Brazilian meat exporters hit by Russian ban

Russia has banned the import of meat from 10 Brazilian processing plants starting on June 9, the Russian news agency Interfax said on Wednesday, weakening shares of Brazil's big beef exporters JBS SA and Marfrig SA.

Markets

Natural gas prices fall modestly

Prices fall modestly through the week at most locations. Prices at most market locations outside of the Northeast fell this week, generally by less than 10%. The Henry Hub spot price began the week at $2.99/MMBtu, fell through the week, and settled yesterday at $2.82/MMBtu. Prices at other major trading hubs moved in a similar pattern; the PG&E Citygate price, serving Northern California, fell from $3.34/MMBtu last Wednesday to $3.19/MMBtu yesterday. Prices at the Chicago Citygate fell from $3.01/MMBtu last Wednesday to close the week at $2.76/MMBtu yesterday.

Markets

Morning Farm Report: Livestock prices jump to end the week

Live cattle prices rose on Thursday from $152.48 on Wednesday to $153.50 on Thursday. The $1.02 change brought the 27-day average price to $153.36. Feeder cattle prices saw a large increase on Thursday of $3.52 to hit $224.95.

Lean hogs also increased by 82 cents to $84.60, bringing the 27-day average price to $83.78.

Corn prices fared well with a four cent increase, with wheat also increasing one cent on Thursday.

News

Delayed corn planting affects crop management decisions

Farmers that have not completed corn planting may be considering switching from corn to soybean or keeping corn, but switching to an earlier hybrid. Both of these decisions can be complicated and depend on yield and other information that are imprecise estimates and highly dependent on weather conditions the crops experience throughout the rest of the growing season.

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