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McGregor named FCAD Honorary Farmer of the Year
According to the Webster Dictionary, dedication is defined with a photograph of Alex McGregor*, this year's Honorary Farmer of the 2014 Farmer Consumer Awareness Day (FCAD).
Most ag markets closed the week strongly
Cool weather forecasts may have boosted the crop markets. Concerns about weekend events in the Black Sea region probably gave the grain markets an upward bias today. Traders also seemed to be reacting to cool weather forecasts, since a mid-September frost in northern Corn Belt could hurt corn and bean production. December corn futures closed up 9.5 cents at $3.56/bushel Friday afternoon, while May added 8.75 to $3.77.
Ag markets posted divergent moves Thursday
Crop futures extended Wednesday’s losses Thursday. Anticipation of a huge U.S. corn crop heightened Wednesday, thereby triggering a drop to fresh lows. The drop resumed today, despite early news of a sizeable corn sale to an unknown destination. December corn futures settled 5.5 cents lower at $3.465/bushel Thursday, while May dropped 5.5 to $3.6825.
Ag markets seemed confused Thursday morning
Crop futures extended Wednesday’s losses this morning. Anticipation of a huge U.S. corn crop heightened Wednesday, thereby triggering a drop to fresh lows. The drop resumed today, despite early news of a sizeable corn sale to an unknown destination. December corn futures slumped 6.0 cents to $3.46 late Thursday morning, while May dropped 6.25 to $3.675.
Soy, grain markets tumbled Wednesday
Crop forecasts are again depressing grain and soy prices. The weekly USDA Crop Progress report boosted the corn crop rating 1% to 74% good-to-excellent, which is the second highest late-August reading since 1994. The prospect of huge fall yields, as well as industry forecasts to that effect, clearly undercut CBOT futures. December corn futures closed 11.75 cents lower at $3.52 Wednesday, while May lost 11.0 to $3.7375.
Ag markets diverged Tuesday morning
The corn market seems directionless at midday Tuesday. The Grain and soy futures began the week trading firmly, although there was little fresh news. Corn futures have since turned downward, possibly reflecting disappointment with the weekly Export Inspections report. Current Midwest rainfall may also be weighing on prices. December corn skidded 0.25 cent to $3.6425 late Tuesday morning, while May edged down 0.5 to $3.855.
Ag markets posted a mixed showing before the long weekend
An increased production forecast seemed to depressing corn futures Friday. The corn market slipped Thursday night, then moved lower in response to news that the International Grain Council had boosted its global production forecast 4.0 million tonnes to 973 million. Nearby futures also seem to fail at technical resistance. September corn ended the week 2.75 cents lower at $3.59/bushel, while December dropped 4.5 to $3.6475.
Ag markets moved mostly higher Thursday
Rising Black Sea tensions supporting the grain markets. Sources have proven that Russian forces are in eastern Ukraine. Meanwhile rebel forces have reportedly occupied the important port town of Mariupol, which may slow the flow of Ukrainian grain to the world market. Corn is less affected than wheat, but that region produces lots of corn as well. September corn rallied 5.75 cents to $3.6175/bushel Wednesday, while December added 4.25 to $3.6925.
Livestock futures outperformed the crop markets Tuesday morning
Monday’s progress report is weighing on the crop markets. The weekly USDA Crop Progress report raised the latest rating for the U.S. corn crop 1%, which made it the second-highest mid-August reading since 1994. The fact that traders were already anticipating a huge harvest doesn’t seem to be limiting the bearish reaction occurring today. September corn slumped 6.0 cents to $3.54/bushel late Tuesday morning, while December lost 5.0 to $3.625.
Most ag markets held up surprisingly well Tuesday
Monday’s progress report weighed the corn market. The weekly USDA Crop Progress report raised the latest rating for the U.S. corn crop 1%, which made it the second-highest mid-August reading since 1994. The fact that traders were already anticipating a huge harvest may have limited the bearish reaction later in the day. September corn settled 4.0 cents lower at $3.56/bushel Tuesday, while December lost 2.5 to $3.65.
Ag markets are decidedly mixed at midsession Tuesday
Talk of large production is depressing corn futures. Corn futures proved unable to sustain their early-week follow-through to last week’s late rally and turned downward yesterday. Preliminary results of an ongoing crop tour seem to be weighing on the corn and bean markets. September corn stalled at $3.6075/bushel late Monday morning, while December sagged 0.75 to $3.7075.
Ag markets flailed around with little net movement Friday morning
Corn futures began Friday on a firm note. The annual USDA report on farmer enrollment in subsidy programs was published early this morning. They enrolled 83.322 million acres of corn, with 1.54 million classified as ‘prevent planted.’ Nearby futures rose modestly in response, since the indicated acreage totals seemed surprisingly small. September corn gained 4.0 cents to $3.66/bushel around midsession Friday, while December climbed 4.5 to $3.78.
Ag markets diverged somewhat Thursday morning
The export data boosted corn futures Thursday morning. The ag industry is clearly expected huge fall corn production, but traders sometimes forget that demand is also quite strong. They were reminded of that fact by the weekly USDA Export Sales report, which stated corn commitments above industry forecasts. That’s a big reason for subsequent gains. September corn bounced 2.25 cents to $3.6025/bushel around midsession Thursday, while December gained 2.0 to $3.7175.
Ag markets ended Wednesday in decidedly mixed fashion
Corn futures posted a late-Wednesday comeback. Tuesday’s USDA reports implied record U.S. corn yield and harvest totals this fall, which weighed on CBOT futures Tuesday and again Wednesday. However, news of sizeable export sales boosted prices early today. Futures rallied from lower levels later in the day. September corn closed 0.5 cent lower at $3.58/bushel Wednesday, while December gained 0.75 to $3.6975.
Ag markets moved mostly lower again Wednesday morning
Corn futures resumed their post-report decline Wednesday morning. Tuesday’s USDA reports implied record U.S. corn yield and harvest totals this fall. Futures reacted poorly to the news and couldn’t sustain overnight efforts to stabilize. Indeed, early morning announcements of fresh export sales also failed to push prices higher. Traders think the USDA forecasts are too low. September corn dipped 1.75 cents to $3.5675/bushel late Wednesday morning, while December lost 1.25 to $3.6775.
Corn was the exception to the bearish ag market rule Tuesday
Corn futures bounced on Tuesday’s production data. Today’s USDA Crop Production report stated the forthcoming corn crop at 14.032 billion bushels, which fell moderately below the average of analyst estimates. Global carryout on the WASDE report also fell short of expectations, thereby causing corn futures to edge upward by the end of the day. September corn settled 1.75 cents higher at $3.585/bushel Tuesday, while December crept up 0.75 to $3.69.
Ag markets moved mostly lower after Tuesday's USDA reports
Corn futures bounced on Tuesday’s production data. Today’s USDA Crop Production report stated the forthcoming corn crop at 14.032 billion bushels, which fell moderately below the average of analyst estimates. Global carryout on the WASDE report also fell short of expectations, thereby causing corn futures to take back a portion of early losses. September corn slipped 3.5 cents to $3.5325/bushel shortly after Tuesday’s reports were released, while December lost 4.75 to $3.635.
Ag markets posted divergent closes Monday
Corn futures edged higher to start the week. Talk of poor growing conditions and a likely improvement in Chinese demand seemed to boost the corn and bean markets to start the week. Short covering prior to tomorrow’s big USDA reports probably supported prices as well. September corn closed 5.0 cents higher at $3.5675/bushel Monday, while December gained 4.75 at $3.6825.
Crop futures are mixed Monday, while livestock prices are down
Corn futures edged higher to start the week. Talk of poor growing conditions and a likely improvement in Chinese demand seemed to boost the corn and bean markets to start the week. However, unlike beans, this morning’s Export Inspections report probably disappointed corn traders. September corn gained 3.25 cents to $3.55/bushel late Monday morning, while December moved up 2.75 at $3.6625.
BLM won't back up claim rancher Cliven Bundy owes $1 million
(MCT) - Nevada rancher Cliven Bundy kept more than his cattle when he and his armed militia supporters from Oregon and elsewhere recently backed down the U.S. Bureau of Land Management.