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Young American farmers brim with optimism

Each year, the American Farm Bureau Federation surveys about 1,000 young farmers and ranchers from across the country. The 22nd annual survey found that 91 percent of young people in agriculture are more optimistic about farming than they were five years ago. An equal percentage say they expect to be lifelong farmers.

Markets

Crop markers are mixed in early holiday trading

Talk of strong demand reportedly supported corn Sunday night. Expect slow trading and limited price action over the next two weeks as many in the financial industry celebrate the holidays. Conversely, news events might spur choppy trading as low trading volume tries to accommodate orders. Wire service sources cited strong demand and possible spillover from the wheat pit for limiting corn losses Sunday night. The market seems likely to test moving average support before Christmas.

Markets

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.

News

Lower soy seeding rates with pre-emerge herbicide

The cost of soybean seed has increased more than 225% since the introduction of glyphosate resistant varieties in 1996. This increase in price has caused growers to reduce the rate of seeding in fields. However, the lower crop seeding rate can lead to a more open canopy for weeds and increased competition with the crop.

Quotes and Weather

Climate Outlook for January 2015

Review of the new long range climate outlooks released today from the National Oceanic and Atmospheric Administration's (NOAA) Climate Prediction Center indicate that the wide variability in temperature swings of fall and winter are likely to continue; and the potential for a weak El Niño lingers, explained Dennis Todey, South Dakota State Climatologist & SDSU Extension Climate Specialist.

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