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Hog Outlook: Average price of pork up 28.8 cents from last year

Clemons Food Group has announced plans to build a large new hog slaughter plant in Coldwater, Michigan. The plant is planned to begin operations in late 2017. This will be the nation's first large hog slaughter plant since the Triumph Foods plant opened in St Joseph in January 2006.

Markets

Ag markets posted divergent performance Friday

Corn traders seem to be balancing positions before the weekend. Despite firm equity markets and a more stable currency situation, as well as more evidence of Russian government moves to curtail its wheat exports, the crop markets turned decidedly lower Thursday night. Corn futures followed wheat downward, but firmed later in the day when a private forecaster predicted reduced 2015 plantings. March corn futures closed 0.5 cent lower at $4.105/bushel Friday, while July skidded 0.25 to $4.26.

Markets

Commodity markets moved mostly lower Friday morning

Corn traders seem to be taking profits before the weekend. Despite continued equity market strength and a more stable currency situation, as well as more evidence of Russian government moves to curtail its wheat exports, the crop markets have turned decidedly lower night. Corn futures followed wheat downward, thereby seeming to reflect bullish profit-taking and farmer selling in the wake of this week’s gains. March corn futures dipped 2.25 cents to $4.0875/bushel late Friday morning, while July lost 2.5 to $4.2375.

Markets

Crop markers proved surprisingly weak Thursday night

Corn bulls may be taking profits before the weekend. Despite continued equity market strength and a more stable currency situation, as well as more evidence of Russian government moves to curtail its wheat exports, the crop markets turned decidedly lower Thursday night. Corn futures followed wheat lower, thereby seeming to reflect bullish profit-taking in the wake of this week’s gains. March corn futures dropped 6.0 cents to $4.05/bushel early Friday morning, while July lost 6.0 to $4.2025.

Markets

Ag markets moved almost universally higher Thursday

Corn futures backed away from early Thursday highs. Surging equity markets reflect renewed optimism about the global economic & political outlook, which in turn seems bullish for grain demand prospects. Corn futures rallied significantly in early morning action, but slumped in the wake of the mediocre result on the weekly USDA Export Sales report. March corn futures close 2.75 cents higher at $4.11/bushel Thursday, while July added 3.0 to $4.2625.

Markets

Commodity markets moved mostly higher Thursday morning

Corn futures backed away from early highs. Surging equity markets reflect renewed optimism about the global economic & political outlook, which in turn seems bullish for grain demand prospects. Corn futures rallied significantly in early morning action, but have slumped a bit in the wake of the mediocre result on the weekly USDA Export Sales report. March corn futures rose 2.5 cents at $4.1075/bushel late Thursday morning, while July added 2.5 to $4.2575.

Markets

Wheat is again leading the crop markets higher

Renewed economic optimism is boosting most markets. Concern about the global economic & political situation and underlying demand has weighed on corn futures lately. However, yellow grain prices rallied in early trading as the energy and equity sectors led markets higher. Surging wheat futures likely contributed to the corn gains. March corn futures rallied 5.25 cents at $4.135/bushel Wednesday night, while July added 5.25 to $4.285.

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