01-03-2014 07:30 AM - edited 01-03-2014 01:48 PM
At the close:
The March corn futures contract settled 3 cents higher at $4.23. The March soybean futures contract ended 1 1/4 cents higher at $12.71. March wheat futures ended 8 cents higher at $6.05 per bushel. The March soymeal futures contract closed $0.80 per short ton higher at $407.10. The March soyoil futures closed $0.20 lower at $38.60.
In the outside markets, the NYMEX crude oil is $1.29 per barrel lower, the dollar is higher and the Dow Jones Industrials are 35 points higher.
The March corn futures contract is trading 1 1/2 cents higher at $4.21. The March soybean futures contract is trading 3 cents lower at $12.67. March wheat futures are 8 cents higher at $6.05 per bushel. The March soymeal futures contract is trading $0.50 per short ton lower at $405.80. The March soyoil futures are trading $0.16 lower at $38.64.
In the outside markets, the NYMEX crude oil is $0.96 per barrel lower, the dollar is higher and the Dow Jones Industrials are 4 points higher.
USDA Weekly Export Sales (Released a day late):
Corn= 174,800 metric tons vs. the trade's expectations of 250 to 900,000 metric tons.
Soybeans= 1.180 million metric tons vs. the trade's expectatios of 400 to 900, 000 metric tons.
Wheat= 256,500 metric tons vs. the trade's expectations of 200 to 600,000 metric tons.
Early calls: Corn is seen 1-2 cents higher, soybeans 1-2 cents higher, and wheat 1-2 cents higher.
Overnight grain, soybean markets=Trading higher.
Brent Crude Oil=$0.05 per barrel higher.
Wall Street=Flat ahead of winter storms.
World Markets=Asia/Pacific stocks were mixed to lower, Europe stocks higher.
More in a minute,
01-03-2014 09:31 AM
01-03-2014 10:09 AM
Cattle #'s are the smallest in most of a century, Hogs have a new virus cutting #'s too. This adds up to less feed consumption even if it is cold.
Looks like we need more sweetener and E plants.
Here is a little cut and paste...
January 3, 2014
ITUMBIARA – The golden days of Brazilian ethanol production is waning, despite investment of billions of dollars on transforming sugar cane into ethanol, the Washington Post reports. What makes this even stranger is that many of the cars in Brazil are designed to use biofuel.
With a potentially big export market of China and the United States, the plan was to construct an 800-mile route of river barges and pipelines to funnel billions of gallons from central Brazil to Atlantic Ocean ports. However, despite those advances, the ethanol industry has been in a downward spiral, partly attributed to natural disasters in the form of heavy rains and drought.
Adding to that is a diminishing demand for ethanol in America, with the U.S. Midwest churning out inexpensive oil and gas from shale. Even Brazil has discovered hitherto unknown deposits of oil in its offshore waters. Then the Brazilian government greatly reduced gasoline taxes, lowering pump prices to below ethanol.
“The scenario that we had a half-decade ago is not what we have anymore,” said Mauricio Muruci, an ethanol analyst in Brazil. “We are not thinking about ethanol in our future. We are thinking about pre-salt oil and shale gas.”
Brazil has been attempting to ditch gasoline on a wholesale level since for four decades. This century, the country debuted fuel-flex cars that could take gasoline or ethanol. Nowadays, 64% of the cars on the road can fill up with ethanol or gasoline. “This was the biggest project in the world to replace a fossil fuel with a renewable fuel,” said Adhemar Altieri of the Brazil Sugarcane Industry Association.
01-03-2014 10:42 AM
Just a notice on feed use, aka soybean meal, It appears the corn silage and HM corn for the dairy farmers around me is quite low in energy. This may be leading to lower milk production. I think the need to balance the ration, will mean a increase of meal use or roasted soybeans.
01-03-2014 11:27 AM
Low in energy = corn use
Low in protein = soy meal or DDG or........ better hay etc.
Dairies here use a multitude of ingredients to balance rations, even good clean wheat straw mixed in feed to bring up carbon?, I think is the reason.
They are always testing and tweeking the ration.
Mixer wagon seems to be on the go all day.
Different hay for different groups of animals etc.
01-03-2014 02:37 PM
MARKET COMMENTARY January 03, 2013
By Raymond Jenkins
All markets are going to close on the plus side today, which may be an indication that we’ve absorbed the bulk of the bearish news. Today the bearish news came from the private crop numbers which added another 173 million bushels of corn and 71 million bushels of beans to the 2013 production numbers. There were some modest reductions in South American production, which may have tempered the negativity, at least for today.