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Soy complex turns lower Friday afternoon

Fine planting weather depressed corn futures again Friday. One might blame a portion of Friday’s corn weakness on the rebounding U.S. dollar, but resurgent equity indexes seemingly made that less likely. It’s much more probable that forecasts continually pointing to conditions conducive to rapid corn planting and a good emergence during early May undercut the crop markets. July corn futures dropped 3.25 cents to $3.63/bushel at Friday’s close, while December lost 3.25 to $3.8025.

News

Policy Pennings: China imports to meet soybean needs but produces its own corn, wheat and rice

With a population of 1.3 billion and counting and a small agricultural area relative to its large population, China is repeatedly the hope for an export-led prosperity for grain and oilseed farmers in the major agricultural exporting nations. Early in the twentieth century, as the US was suffering from a long-period of low cotton prices, it was suggested that if every person in China were to lengthen the shirt they wear by just an inch, the US cotton surplus would disappear and cotton would once again be profitable. It did not happen and low prices continued to plague cotton-belt farmers.

Industry

Natural gas prices decreasing

Cooler temperatures this week had a minimal effect on prices, which moved down at most market locations. The East in particular saw unusually cold weather, stoking gas demand in the residential and commercial sectors, yet prices still declined slightly.

Markets

Wheat futures under pressure Friday at midday

Fine planting weather is still depressing corn futures. One might blame a portion of Friday’s early corn weakness on the rebounding U.S. dollar, but resurgent equity indexes seemingly make that less likely. It’s much more probable that forecasts continue pointing to conditions conducive to rapid corn planting and a good emergence during early May. July corn futures dropped 4.75 cents to $3.615/bushel around midsession Friday, while December lost 5.0 to $3.785.

News

Bird flu outbreak could set U.S. record

The highly pathogenic H5 avian flu turned up in initial tests at five more farms in Iowa, including a commercial egg operation housing up to 5.5 million birds, Iowa's agriculture department said on Thursday.

News

CAFO information release ruling appealed

The American Farm Bureau Federation (AFBF) and National Pork Producers Council (NPPC) formally appealed a lower court ruling that allowed the U.S. Environmental Protection Agency (EPA) to publicly release information regarding livestock farms subject to concentrated animal feeding operation (CAFO) regulations.

Markets

Losses in cattle market drag hogs lower on Thursday

Accelerating plantings seemed to weigh on grain futures. Today’s USDA Export Sales data may have disappointed bulls. Talk of accelerating planting as fine weather dominates the Midwest also seemed to dominate in Chicago, but bears could also point to a wire service story indicating a likely rise in Brazil’s ‘second crop’ production. May corn futures settled down 1.25 cents at $3.625/bushel Thursday, while December lost 2.0 to $3.8325.

News

Senators call for repeal of WOTUS

April 30, Senators John Barrasso (R-Wyo.) and Joe Donnelly (D-Ind.) announced they are introducing bipartisan legislation to repeal EPA’s “Waters of the United States” proposal, a proposal that will jeopardize the rights of private property owners across the country. The National Cattlemen’s Beef Association and the Public Lands Council applaud the Senators for actively working to stop EPA’s aggressive attempt to expand federal jurisdiction over nearly all waters.

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