Author: staff

December corn is up 3¢ this morning. This morning USDA announced Mexico is buying 110,500 metric tons of corn for the 2024/2025 marketing year. January soybeans are down 2¢. December wheat contracts are mixed. CBOT wheat is up 2½¢. KC wheat is down less than a penny. Minneapolis wheat is up 1¾¢. “Soybean futures came under further pressure in early trade while corn futures and wheat futures were narrowly mixed in very cautious action amid a lack of fresh fundamental news,” said The Brock Report, referring to the overnight trade. “Technical follow-through to a weak Monday close, anticipation of an…

Top Third Ag Marketing helps farmers become better agricultural marketers with the goal of marketing crops and livestock in the top third of prices. Mark Gold and his team provide AGDAILY.com with the latest information and a look ahead in their audio commentary. Listen here! https://www.agdaily.com/wp-content/uploads/2024/11/top-third-agdaily-2024-011-11.mp3 The post Markets in Minutes: Top Third looks ahead for week of Nov. 11, 2024 appeared first on AGDAILY.

Kristopher Klokkenga is the fourth generation to run his family’s 1,500-acre centennial farm near Emden, Illinois, midway between Peoria and Springfield. Eighty-five percent of his production is organic, including food-grade yellow and white corn, popcorn, alfalfa, and non-GMO soybeans, as well as conventional corn and soybeans.  His travels led him to Ghana. While farming he met and married his wife, Christina, from Denmark. The opportunity to take over his family farm led them back to the U.S., where they now raise their four children.  SF: How did you end up on a winding path that led from your family farm in…

Listen to the Podcast Meet Brent Rendel Brent Rendel grew up on his family’s Oklahoma farm but didn’t think he would become a career farmer. After earning a mechanical engineering degree from Oklahoma State University, he joined the Navy as a nuclear engineer. Serving aboard a submarine, Rendel served his country and saw the world. When his service was complete, Rendel returned to Oklahoma, went to work for the family metal fabrication business, and eventually joined the family farm. We discuss his time in the military, lessons learned on the farm that helped him in the Navy (and vice-versa), and…

The grain markets have turned lower with wheat futures getting hit hard. Last week the corn and soybean markets posted impressive gains after the bullish USDA reports. Wheat futures closed mixed to lower. The main factor today is the major rainfall event that moved through the dry areas of the southern Plains this weekend. This pressured wheat prices first during the overnight trade, and then weighed on corn and soybean prices. This morning, December corn futures are down 3¢, January soybean futures are 42¢ lower, and wheat futures are 12¢ to 17¢ lower. Even though corn and soybean prices are…

The U.S. agriculture economy in 2024 is facing an unusual combination of events, leading to an unpredictable machinery market. Despite this, farmers can still improve their equipment fleets if they know where to look. Options are available, and in some cases prices are approaching historic lows.   “I think we’re going to be in the middle of 2026 before we level out into a new normal,” says Moving Iron podcast host Casey Seymour. “I’m anticipating a very active auction time frame through December where if you have the money, you’re going to be able to get some bargains. And I…

1. Wheat futures drop, soybeans higher overnight Wheat futures plunged in overnight trading after the U.S. Department of Agriculture narrowly raised its outlook for global production and inventories.  Domestic stockpiles at the end of the 2024-2025 marketing year that started on June 1 are now forecast at 815 million metric tons, up from a prior outlook for 812 million tons and the previous year’s 696 million tons, USDA said in a report on Friday.  The agency also raised its outlook for global production slightly but also bumped its projection for use, resulting in ending stocks that were little changed month…

Texas agriculture commissioner Sid Miller, former ambassador Kip Tom, and Ted McKinney, a onetime USDA undersecretary, were among a handful of men viewed as potential nominees to run the Department of Agriculture when Donald Trump returns to the White House in January. Incoming presidents typically try to announce their cabinet nominees before the year-end holidays, although Trump did not tab Sonny Perdue to lead the USDA until two days before his inauguration. Miller, a brash conservative, was mentioned for the USDA after Trump won his first term in 2016. Tom, a wealthy Indiana farmer, was U.S. ambassador to the UN…

President Trump rolled up 63% of the vote in rural America, a larger margin than in 2016, on the way to winning a second term in the White House on Tuesday. Farm groups offered to work with him on Wednesday to pass the new farm bill, now 14 months overdue, and to bring high costs under control. “The new administration must also address the impending tax hikes, which would crush many of America’s farmers and ranchers when stacked on top of inflation, high supply costs, and market instability,” said Zippy Duvall, president of the American Farm Bureau Federation. “Another big…

For the next few years, season-average prices for U.S. corn, soybeans, and wheat, the three most widely grown crops in the country, will largely mirror the market prices for this year’s crops, projected the Agriculture Department on Thursday. The steep declines in farm-gate prices since 2022 would be replaced by a period of relative stability, according to the USDA’s long-term baseline. Over the next five years, corn would sell for an average of $4.10 a bushel, the same as the USDA’s estimated farm-gate price for this year’s crop. Wheat prices, slowly rising from the $5.70 forecast for this year’s crop,…