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Minerals
Grain markets close higher on Monday
- NFU delegates outline 2012 Farm Bill priorities
- Gilmer Dairy Farm celebrates Ag Day 2012
- Milk Quality Focus: Seal out mastitis during the dry cow period
- Corn closes lower ahead of Friday's WASDE report
- UNL Survey: State agland value jumps 31% in 2011
- La Niña done by end-April, dry spell may plague the South
- OSHA program inspects Wisconsin dairies to prevent accidents
- Grain markets trade lower at midday
- Iowa lawmakers tackle stray voltage issue affecting dairies
- World food prices up, raising inflation concern
- Spate of fatal skid-steer accidents
- Iowa sends volley across animal activists’ bow
- Fire at New York dairy kills more than 100 animals
- Happy 100th birthday to one of milk’s best friends!
- What was that again about vitamin D?
- No jail for Wisconsin dairy farmer
- 3 percent of dairies produce half of milk supply
- Make mine a triple
- The food police and unintended consequences
- New cover crops field guide available
- Immigration raids changed life for Mich. producer
- Worker shortage puts billions of ag production in jeopardy
- 3 percent of dairies produce half of milk supply
- Iowa sends volley across animal activists’ bow
- USDA pares down estimates for 2012 milk prices
- PETA to question Calif. Milk Advisory Board
- Poll: Will the national debt, which now totals $15.4 trillion, cause the U.S. economy to crash within the next five years?
- Is Wednesday’s gloomy milk-feed ratio even worth considering?
- Holes found in organic milk certification
- Raw milk linked to most dairy-related disease outbreaks
Corn futures finished higher on Monday. The positive sentiment in the markets following the new plan to resolve the debt crisis in Germany and France lifted corn today. The dollar was weaker, which should boost demand for U.S. exports. Prices pulled back from their morning gains as farmers took advantage of the price surge to lock in prices on the cash market. December was 5 cents higher at $6.05 and March was 4 3/4 cents higher at $6.17 1/2.
Soybean futures ended higher on Monday. The market was supported by solid gains in the stock market amid optimism about progress in controlling the crisis in Europe, which caused the Euro to strengthen and pressured the dollar. Prices had fallen to nearly a one-year low after a 5-week decline, and were due for a bounce. Higher gold prices helped support commodity prices in general as well. Chinese markets will reopen this week which could boost demand for soybeans and give market psychology a boost. November was 19 1/4 cents higher at $11.77 1/2 and January was 18 3/4 cents higher at $11.88 3/4.
Wheat futures finished higher Monday. Strength in the stock market and weakness in the value of the dollar boosted wheat prices today. However, profit-taking at the session highs weighed on futures, and the market settled with only marginal gains. Overall the outlook for the wheat market remains challenging. Good rain in parts of the Plains states should provide a real boost to germination and early season development of the winter wheat crop. Warm weather is expected to persist over most of the winter wheat area, aiding early season growth. CBOT December was 4 cents higher at $6.11 1/2, KCBT December was 1 1/2 cents higher at $6.86 and MGE December was 14 3/4 cents higher at $9.34 1/4.
Cattle futures settled mostly lower Monday. Market activity was lighter than normal due to the Columbus Day holiday. Prices were pressured by concerns about slowing beef demand, which is discouraging for packers who have been operating off of poor margins and losing money. Packers continue to buy cattle despite accruing losses, but cattle buying should start to wane as consumers are deterred by high prices. Cash cattle trade is not expected to develop until at least mid-week. December was $1.50 lower at $120.35 and February was 35 cents lower at $122.85.
Hog futures closed mostly lower Monday. Pork demand has been unseasonable strong, but futures are slipping as traders are leery of the high prices when supply is abundant. Packer margins have declined sharply from week-ago levels, which has slowed activity in the cash hog market. Pork plant margins on Friday were down roughly $10 from the previous week. Europe’s plan for dealing with the debt crisis seems to be getting a good response, which is favorable for the market outlook. December was $1.65 lower at $87.75 and February was 58 cents lower at $91.18.
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