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Corn market trades mixed on Thursday
- HSUS ads deceive 90% of donors
- Texas dairyman puts animal health first
- Wheat posts biggest gain in 6 weeks on Wednesday
- CME to pare back plan for expanded grain trading
- Milk Mustache campaign gets Spanish makeover
- D.C. Watch: Work continues on farm bill
- Cattle futures climb at midday on improved demand
- Vilsack highlights importance of ag education and research
- Milk production continues robust expansion while prices soften
- Block cheese unchanged at $1.50 on CME
- Death of 3-year-old serves as reminder for better farm safety
- $1 to watch a video of farm animal abuse
- Calif. TV station investigates 'what’s in your milk'
- Co-ops start reacting to milk surplus
- Top 100 ag banks of 2011 posted
- Say 'yes' to Domino’s Pizza by paying it forward
- The latest on heat-treating colostrum
- Abused lawyers in parody of HSUS ad
- Don’t overlook zoonotic diseases
- Take her higher
- What you need to know about the latest case of BSE
- Mother warns against feeding raw milk to children
- Poll: Do you agree that dairy farming is the second worst job in America?
- Commentary: Obama’s going to tackle immigration? Yeah, right
- Domino’s Pizza says “no” to HSUS
- Commentary: Stand up for Dairy Security Act
- Stand up for Dairy Security Act
- Raw milk problems give dairy farmers a 'bad name,' says one
- Dairy group endorses Wisconsin governor in recall election
- New study blames dairy farms for much of LA’s smog
Corn futures opened lower, but quickly turned higher as of midsession. The USDA reports were neutral for corn. Weakness in the dollar index and strength in crude oil are supportive factors. USDA raised the corn export number by 50 million bushels and cut ending stocks by 45 million, but this was right on trade expectations. A smaller Argentine crop is expected to help boost U.S. export demand. March is 2 3/4 cents higher at $6.45 1/4 and may is 1 1/4 cents higher at $6.49 1/4.
Soybean futures are trading higher at midsession. Outside market support has pushed prices higher and technical being has extended gains once the March contract pushed through technical resistance. USDA’s soybean report was neutral as U.S. supply/demand estimates were unchanged. Globally, USDA reduced its production forecast for Brazil by 2 million metric tons and Argentina by 2.5 mmt, but that was in line with trade expectations. March is 6 1/4 cents higher at $12.37 3/4 and May is 6 1/2 cents higher at $12.46 1/2.
Wheat futures are trading lower at midday. The USDA reports were mixed for the market. USDA raised the forecast for U.S. exports by 25 million bushels and lowered ending stocks that amount. However, that was countered by bearish global revisions. USDA raised its world wheat ending stocks estimate by 3.1 million metric tons to a record 213.1 mmt. Traders were looking for USDA to lower world ending stocks slightly. CBOT March is 6 3/4 cents lower at $6.54, KCBT March is 13 1/4 cents lower at $6.96 3/4 and MGE March is 4 cents lower at $8.37 1/2.
Cattle futures are trading mixed at midsession. The market is choppy as traders wait for the cash market to develop. Improved boxed beef prices and smaller showlists could support the cash market. However, with processing margins still well in the red packers could choose instead to further slow slaughter. February is 20 cents lower at $125.58 and April is unchanged at $128.80.
Lean hog futures are higher at midday. The gains this morning are being attributed to short-covering and on strength in the stock market. The positive U.S. weekly jobless claims and reports of a deal being made in Greece over the debt crisis are supportive factors. However gains are being limited by some weakness in pork prices and by the steady to slightly lower cash markets. February is 53 cents higher at $86.80 and April is 85 cents higher at $89.80.
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