Researcher doubts USDA soybean yield estimates

A soybean researcher has doubts about the accuracy of USDA’s projected soybean yields this year.  Shawn Conley with the University of Wisconsin says, “I think these yield estimates for NASS are overexagerated.” Conley tells Brownfield his boot-on-the-ground observations combined with nationwide satellite imagery don’t support USDA’s soybean yield expectations. “I’ll just use last year as…Continue Reading

Live cattle down, feeders mixed ahead of direct trade

Chicago Mercantile Exchange cattle futures were lower and feeders were mixed, continuing to get ready for the week’s direct business. October live was down $.77 at $178.62 and December was $1.07 lower at $177.77. September feeders were $.62 lower at $241.30 and October was $.20 higher at $238.57. Direct cash cattle markets remained at a…Continue Reading

USDA to encourage third-party verification for food label claims

A new guideline from the USDA’s Food Safety and Inspection Service encourages third-party verification of animal raising or environmental related claims found on food products at the grocery store. The agency says encouraging a third-party certification helps ensure the claims like “raised without antibiotics, grass-fed and free-range” are truthful and not misleading. The updated guideline…Continue Reading

Global factors affecting cotton and rice markets

An extension economist with the University of Missouri says there are a few global factors affecting the current cotton and rice markets. Ben Brown says a decline in U.S. cotton production is being overshadowed by deteriorations in global cotton consumption and the export market. “We export a lot of our cotton to southeast Asia, China…Continue Reading

Soybeans, corn end session in the red

Soybeans were lower on speculative and technical selling. There has been scattered rain in parts of the Midwest and while coverage was not widespread, it was generally welcome. It’s been a dry August for most of the region and there is the possibility of crop stress from the recent high temperatures, but the market largely…Continue Reading

Closing Grain and Livestock Futures: August 28, 2024

Sep. corn closed at $3.65 and 1/4, down 2 centsSep. soybeans closed at $9.58 and 1/2, down 9 centsSep. soybean meal closed at $310.80, down $6.50Sep. soybean oil closed at 41.80, up 65 pointsSep. wheat closed at $5.14 and 1/4, up 6 centsOct. live cattle closed at $178.62, down 77 centsSep. feeder cattle closed at…Continue Reading

Illinois farmland values soften in first half of ‘24

The Illinois Society of Professional Farm Managers and Rural Appraisers says farmland values in the state were down in the first half of 2024. Luke Worrell, chair of the organization’s Farmland Values & Lease Trends Committee, tells Brownfield the results of their mid-year survey were expected, primarily due to lower commodity prices. “We saw about…Continue Reading

Playlist