Author: staff

Beef has become the latest casualty in price markups with prices rising sharply and showing little sign of relief. After a year of steep hikes in egg prices, Americans now face record highs at the meat counter — with ground beef and steak leading the surge. The good news? Americans are still buying beef.  According to the U.S. Bureau of Labor Statistics, beef prices have jumped nearly 9 percent since January, retailing at an average of $9.26 per pound. The June Consumer Price Index showed steaks up 12.4 percent and ground beef up 10.3 percent over the last year. “Beef…

At the market close, December corn was down 4¼¢ at $4.18 per bushel. November soybeans were down ½¢ at $10.25½ per bushel. “Futures were under pressure to start [Tuesday] but ground higher as the session progressed.” said Karl Setzer, partner with Consus Ag Consulting. “The managed-money crowd remains focused on the equity market, and that is where money flow is directed. Until this changes, upside market potential may be limited.” He added, “Corn demand remains above expectations, but now that the South American export program is picking up, this will slow.” The wheat markets were stronger at the close. September…

The Midwest will endure a particularly nasty stretch of heat and humidity this week, and many people are pointing to “corn sweat” as one of the driving forces. Think highs in the upper 90s and lows in the upper 70s as commonplace in the coming days. Corn sweat refers to the evapotranspiration process (common across the plant world) where leaves release water vapor into the air through their stomata. The process is a sign of healthy plants and the health of its surroundings, said Talon Becker, a University of Illinois Extension commercial agriculture educator. Conversely, when plants become stressed, like…

As the U.S. corn crop progresses through some of its most critical stages of development, something unusual is unfolding — not beneath the surface, but rather, beneath the leaves. The nation’s corn crop is in great shape: 74% was rated good/excellent by the USDA for the third straight week. Yet, a phenomenon called tight tassel wrap has been reported in several of the top corn-growing states, and it’s something that has the potential to impact overall yield. What Is It? With tight tassel wrap, corn tassels remain tightly wrapped in the upper leaves of the corn plant and fail to…

Texas Agriculture Commissioner Sid Miller said the Lone Star State would be working closely with the U.S. Department of Agriculture on efforts to reintroduce an improved pest control method to the international screwworm response: Swormlure Bait. “The New World Screwworm is not just a Texas problem. This is a nationwide crisis with potential massive implications for American agriculture, which could result in billions of dollars in economic losses and place a heavy burden on our agriculture, wildlife industries, and public health systems,” Miller said. “We cannot wait for sterile flies alone to turn the tide. That’s why we’re applying a…

USDA published the latest Crop Progress report on Monday, July 21. Here’s a closer look at recent weather and the status of Kentucky’s most important crops as July progresses. Weather Matt Dixon, University of Kentucky Ag Weather Center meteorologist, in a July Ag Weather Update article, said, “While the heat remains, classic summertime downpours have made a return, adding to what’s already been an exceptionally wet year across the Bluegrass State.”  This year has been the fourth-wettest spring in Kentucky history. The state averages 50.36 inches for the year, and he noted several locations have already surpassed that amount like…

Let’s talk about seed oils. The topic seems to ignite an immediate reaction — one that’s often loud, accusatory, and frankly, devoid of substance. It seems that the minute I share a balanced, science-backed opinion on seed oils — something as simple as, “Hey, maybe these oils aren’t inherently evil” — the internet erupts with a familiar chorus: “OMG, how much are you getting paid?” “Shill!” “She’s sponsored by Big Seed Oil!” Let’s pause right there. If the only counterargument someone can offer is “you must be getting paid,” that’s not a legitimate position. That’s a conspiracy theory. If you…

1. Corn, Soybean Futures Lower in Overnight Trading Corn and soybean futures were lower in overnight trading as rain this week is expected to give crops a boost.  Showers this week will limit stress on corn and beans in the U.S. Midwest despite a brief round of hot weather, Commodity Weather Group said in a note to clients.  Rainfall is expected to leave “only very spotty dryness” in parts of the Corn Belt, the forecaster said. Some excess rain is forecast for areas of the central Midwest.  Elevated temperatures that are expected to reach triple digits in parts of several…

December corn ended the day down 5½¢ at $4.22¼ per bushel. November soybeans closed down 9¾¢ at $10.26 per bushel. September CBOT wheat ended the day down 4¢ at $5.42¼ per bushel. September KC wheat closed down 3¼¢ at $5.25¾ per bushel. September Minneapolis wheat was down 9¢ at $5.86½.  “Corn, soybeans, and wheat were under pressure to start the week’s trade as profits were taken on last Friday’s rally,” said Karl Setzer, partner at Consus Ag Consulting. “Futures posted gains last Friday as weather premium was added to the market ahead of the weekend. Rains moved through some of…

What Happened Marketing is easy with good information. Or is it? Is there ever enough good information to make a “highly confident decision?”  Fundamental and technical factors in markets change constantly. Marketing decisions are forward-looking, meaning that what you decide today will have consequences, good or bad, in the future. Even with what you might feel is great information at the time, the results of a decision based on that information can be emotionally paralyzing. The bottom line is that farmers (who are only human and subject to emotion) may tend to shy away from the decision-making process. Selling too…