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  • February 8, 2016

The Country Today

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    Weekly Markets - Click image to enlarge

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USDA

Monday 02/01/2016
Sluggish feed, ethanol demand affects balance sheets
Posted: February 01, 2016

Trade con­tin­ues to show con­cern over re­cent corn de­mand. We did see a re­duc­tion to de­mand in the lat­est bal­ance sheets of 60 mil­lion bushels, but an­a­lysts be­lieve this was not enough. Given re­cent ex­port per­for­mance on corn, these in­di­vid­u­als claim corn de­mand should be re­duced an­other 50 mil­lion and pos­si­bly 75 mil­lion bushels. If cor­rect, this would push corn car­ry­out close to 2 bil­lion bushels.

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U.S. milk production still coming on strong
Posted: February 01, 2016

U.S. milk pro­duc­tion re­mains above year-ago lev­els, but not by much. De­cem­ber out­put in the top 23 states was re­ported at 16.4 bil­lion pounds, up 0.7 per­cent from De­cem­ber 2014, ac­cord­ing to the U.S. Depart­ment of Agri­cul­ture’s pre­lim­i­nary es­ti­mate. Re­vi­sions added 26 mil­lion pounds to the Novem­ber es­ti­mate, now put at 15.6 bil­lion pounds, up 0.7 per­cent. The De­cem­ber 50-state out­put to­taled 17.4 bil­lion pounds, up 0.7 per­cent.

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Monday 01/25/2016
Winter storm brings robust dairy sales
Posted: January 25, 2016

Dairy Mar­ket News re­ports that last week’s snow­storm “ex­pected to move up the coast and add to the re­gion's cur­rent win­try con­di­tions will likely force a solid run on milk at re­tail out­lets. The re­gion, in gen­eral, is see­ing ro­bust de­mand from bot­tling fa­cil­i­ties, as re­tail sales are strong.”

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Low futures, high inputs affecting acreage estimates
Posted: January 25, 2016

De­bate is in­creas­ing over com­mod­ity val­ues and what im­pact they could have on this year’s acreage. Some an­a­lysts have re­duced their corn acreage es­ti­mates due to low fu­tures and high in­put costs. While this may be true, the higher yields that corn has can of­ten make up for lower fu­tures and cash bids. In fact, some ar­eas of the United States are pre­dict­ing more corn acres due to more fa­vor­able weather and soil mois­ture lev­els.

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Tuesday 01/19/2016
Milk production estimates raised for 2015, lowered for 2016
Posted: January 19, 2016

The U.S. Depart­ment of Agri­cul­ture raised its 2015 milk pro­duc­tion es­ti­mate on slightly stronger growth in milk per cow in its lat­est World Agri­cul­tural Sup­ply and De­mand Es­ti­mates re­port. Fore­cast 2016 milk pro­duc­tion was re­duced from last month. Cow num­bers were low­ered due to lower ex­pected milk prices and the re­cent bliz­zard in Texas and New Mex­ico. Growth in milk per cow was re­duced on lower milk prices.

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USDA makes final old-crop yield adjustments
Posted: January 19, 2016

The U.S. Depart­ment of Agri­cul­ture un­ex­pect­edly re­duced the na­tion’s corn yield in the Jan­uary bal­ance sheets by nearly 1 bushel per acre. This put the na­tional yield at 168.4 bushels per acre and crop size at 13.6 bil­lion bushels. Given re­vised us­age es­ti­mates, this will leave the U.S. with a com­fort­able 1.8 bil­lion bushels of car­ry­out. The real sur­prise came to the global num­ber where corn stocks dropped from 211.9 mil­lion met­ric tons in the De­cem­ber es­ti­mate to a cur­rent 208.9 mil­lion met­ric ton pro­jec­tion.

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Monday 01/11/2016
Dairy markets unsettled as stocks tumble
Posted: January 11, 2016

The first Global Dairy Trade auc­tion of 2016 re­versed gears af­ter two pre­vi­ous ses­sions of gain and the weighted av­er­age for all prod­ucts of­fered Jan. 5 dropped 1.6 per­cent, fol­low­ing a 1.9 per­cent gain Dec. 15 and a 3.6 per­cent rise in the Dec. 1 event.

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Inputs the focus as farmers figure out new-crop acres
Updated: January 11, 2016 - 10:49 am

Now is the time of the mar­ket­ing year when farm­ers start to de­ter­mine new-crop acres, and as a re­sult more em­pha­sis is placed on in­put costs and how they may im­pact acres. In the past few weeks we have seen a slight de­crease to the cost of fer­til­izer across the Corn Belt. While this is good news for pro­duc­ers, the cost of corn seed and some chem­i­cals has in­creased at the same time.

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Monday 01/04/2016
Cheese sales strong but high production outpaces demand
Posted: January 04, 2016

Santa made a sec­ond visit to Chicago, where prices ended 2015 on an up note. Block Ched­dar fin­ished the New Year hol­i­day-short­ened week at $1.5075 per pound, up 5¾ cents on the day and up 10¼ cents on the week but 6¼ cents be­low a year ago. Ched­dar bar­rels end the year at $1.53, up a nickel on the day, up a dime on the week, a penny be­low a year ago and an atyp­i­cal 2¼ cents above the blocks. Nine cars of each traded hands on the week.

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2015 a year to remember in commodity markets
Posted: January 04, 2016

This past year was un­like any we have seen in the com­mod­ity mar­ket for sev­eral rea­sons.

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