Corn
Brad Kooima of Kooima Kooima Varilek says cattle futures recovered nicely from Friday’s selloff with some contracts making new highs for the move, pricing in record cash cattle trade. Grain markets are seeing fund buying with soybeans and meal leading on dry weather forecasts for Argentina.
The CR includes nearly $110 billion in disaster and farmer aid, which includes $10 billion in farmer aid and $21 billion ag disaster aid. $2 billion of that disaster aid is specifically for livestock producers. The measure also includes a one-year extension of the 2018 Farm Bill.
The same week Congress released the proposed CR that included $31 billion in aid for producers, a Farm Journal poll asked farmers for their thoughts on whether Congress should pass economic aid.
The stopgap deal to avoid a government shutdown includes $10 billion in direct payments for farmers, $21 bllion in ag disaster aid, a one-year extension of the 2018 farm bill and year-round E15.
Bryan Doherty, Total Farm Marketing, says corn ended lower on a combination of profit taking and farmer selling after running into chart resistance.
On a harsh winter day in 2018, Robbie Polk chanced upon a dinosaur suspended in ice.
In 2017, Bob Recker kicked open the door on 60” row corn, and exposed a ton of questions on sunlight capture, weed suppression, cover crops, and much more.
The effects are already visible, with declining French barley exports to China and the U.S. struggling to sell corn for the new season.
How Low Will Grain Prices Go?
USDA’s Economic Research Service (ERS) will provide an updated 2024 net farm income forecast on Thursday. Economists say the net farm income picture would look even worse it weren’t for improved livestock prices.
Agricultural imports are expected to reach a record $212 billion, up $8 billion from FY 2024. This increase is largely due to rising imports of horticultural products, sugar and tropical products.
U.S. corn prices hit a four-year low as the prospect for record corn and soybean crops takes shape in the field. The eroding outlook also appeared in the August Ag Economists’ Monthly Monitor.
A new Kansas City Fed report shows farm incomes continued to weaken, particularly in crop-heavy states like Kansas, Missouri, and Nebraska, while cattle prices provided some support.
Soybeans Make New Lows....Again and Pull down Corn and Wheat
Grains Trade Weather and China Economic News
Hogs Bounce Off Contract Lows
The latest Ag Economists’ Monthly Monitor, a survey of nearly 70 ag economists from across the U.S., shows the lack of exports, as well as the current crop prices, are eroding outlooks on the crops side. While strong beef demand and cheaper feed prices are creating more optimism in cattle.
Ag markets are mostly lower Monday except cattle and nearby soybeans. The record cash cattle trade is trumping the bearish Cattle on Feed Report, says Scott Varilek, Kooima Kooima Varilek.
As drought deteriorates across the U.S., it’s a positive signal for growing a big crop in 2024. And analysts say if weather continues to fuel this year’s crop, December corn futures could fall into the $3 range by fall.
After years of letting negativity and discouragement hold him back from full-time farming, the first-generation Kentucky farmer decided to take a leap of faith.
Super Bowl fans in Illinois will be able to cheer on some familiar faces in a commercial during the big game on Sunday. Illinois pork producer Chad Leman says the commercial is all about communicating trust in farmers.
With larger-than-expected yield revisions to both corn and soybeans, it leaves one burning question: which states grew such big yields in 2023? USDA NASS released maps and charts to help answer that.
North Dakota auction company announces new record-high land sale for cropland in the northeast corner of the state at $17,500 per acre, while in Iowa farmland sales are starting to cool off.
“Mexico’s decree, which runs counter to scientific findings and is in direct violation of USMCA, is negatively impacting American corn growers,” said Tom Haag, NCGA president.
During a bilateral meeting on Thursday, U.S. Trade Representative Katherine Tai discussed with Mexico’s Secretary of Economy Tatiana Clouthier various issues concerning energy and biotech corn.
Representatives from the U.S., Mexico and Canada will meet in Cancun, Mexico this week to discuss a series of disputes, including Mexican energy and biotech policies and Canadian dairy barriers.
The National Drought Mitigation Center estimates 67% of corn and 60% of soybeans are still considered to be in drought, a slight improvement from last week when drought covered 70% of corn and 63% of soybeans.
USDA released a few big surprises in the June acreage report, including a spike in corn acres and a large reduction in soybean acres. The agency also forecasts grain stocks below trade expectations.
The Ag Economists’ Monthly Monitor is a new survey of nearly 50 economists. Most ag economists agree the next 12 months could produce more financial pressure for agriculture, but their views vary depending on commodity.
Drought is deepening across the Midwest with 64% of the corn crop and 57% of the soybean crop across the U.S. now covered in drought, a sizable jump in just a week after NASS showed a historic drop in condition ratings.