Many Michigan farmers are facing wet fields as planting season approaches.

In this Pods for Profits, plant pathologist Marty Chilvers with Michigan State University talks about the benefits of seed treatments and where they might provide greater returns.

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This week, Will and Ben look at the impact USDA's April supply and demand report might have as farmers ratchet up planting.

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Market recap (changes on week):

- May corn down $.03 at $6.54

- December 2023 corn down $.05 at $5.62

- May soybeans up $.35 at $15.87

- November soybeans down $.23 at $13.09

- May soybean oil down 2.20 cents at 54.48 cents/lb

- May soybean meal down $13.50 at $450.70/short ton

- May wheat down $.15 at $6.78

- July wheat down $.16 at $6.90

- June WTI Crude Oil down $.68 at $79.77/barrel

Weekly highlights:

- US ethanol production was flat on the week and matched the same volume produced exactly one year ago. Stocks for US energy products dropped across the board.

- Ag export sales were bearish for soybeans coming in below all trade expectations. There were also net cancelations of new crop soybeans. Corn was at the top end of their range and above the week prior.

- Open interest of futures and options positions were flat for Chicago corn, soybeans, and wheats as activity has moderated as of late.

- Management money traders bought back nearly 35 net contracts of corn creating a small net long. Traders also increased net long positions in soybeans by 46.4 thousand and increased net short positions of Chicago wheats.

- Weekly export inspections were all within expectations. Corn was down week over week while grain sorghum, soybeans, and wheat were all up week over week.

- USDA’s crop progress report showed 3% of the nation’s corn planted- up 1% and above the 5-year average. Significant progress is expected this week.

- The progress report also showed 27% of US winter wheat rated as good to excellent- down 1% on the week.

Topics:

- Market recap

- USDA's World Ag Supply and Demand Expectations report

- Argentinian crop estimates dropping

- California shipping pause

- Reports to watch

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Find more agriculture news: brownfieldagnews.com

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This week Illinois Soybean Association Research Agronomist Jennifer Jones explains why they invest checkoff dollars in soybean related research and the return to farmers. She also highlights current research projects and upcoming investments.

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Activity on the farm is ramping up and corn growers are prioritizing early season weed control.

Corteva Agriscience market development specialist Jason Gibson says the easiest weed to control is one that never emerges, and adding a residual herbicide to a postemergence tank mix creates a protective barrier to stop weeds before they emerge.

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Brownfield Commodity Market Reporter John Perkins has your look at what supported corn, wheat, and cattle and why soybeans and hogs were mixed.

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- May corn $6.54 up $0.105

- May soybeans $14.8725 down $0.0525

- May soybean meal $450.70 down $3.60

- May soybean oil 54.48 down 5 points

- May Chicago wheat $6.785 up $0.03

- June live cattle $163.70 up $0.60

- June lean hogs $89.15 up $0.97

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Brownfield Anchor/Reporter Brent Barnett and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines.

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- This week in the markets – Live fed cattle prices were up more than $3.50 on the week and feeder cattle prices were $4 to $10 higher ower this week in Oklahoma. June live cattle were up $1.20 on the week. May feeder cattle were up $0.25 on the week. Choice box beef was up $7.3 this week. Cash hogs were down $1.65 this week. June lean hog futures were down $3.35 on the week. Pork cutout values were down $1.90 this week, with all primals lower.

- Weekly Slaughter Numbers – Through Thursday, daily cattle slaughter was 488,000 head, down 3.4% relative to the first four days of last week and down 0.7% relative to the same period one year ago. For the first four days of this week, hog slaughter was 1.924 million head, up 0.2% relative to the same period last week and up 2.3% relative to the same period last year. Year-to-date cattle slaughter is down 2.3% while hog slaughter is up 1.7%

- Monthly Trade Data – February 2023 beef exports totaled 250.8 million pounds, down 3.7 million pounds from a year ago. Chinese imports of US beef were down 2.3 million pounds in February relative to a year ago. February 2023 pork exports were 504.2 million pounds, up 18 million pounds relative to a year ago levels. Much of the gain came from countries not usually at the top of the list of export destinations.

- Jobs Report – The March jobs report showed the US added 236,000 jobsin March and the unemployment rate held steady at 3.5%.

- Next week’s reports – WASDE, Retail Prices and Consumer Sentiment

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Julia Romagnoli with John Deere says HarvestLab 3000 has been on the market since 2007 and can help farmers maximize forage, feed, and manure quality.

She tells Brownfield HarvestLab 3000 can bring to light the full nutrient lifecycle from harvesting the forage to manure application.

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Brownfield Commodity Market Reporter John Perkins has your look at what sent corn and soybeans lower, why wheat and hogs were mixed, and how cattle closed higher.

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- May corn $6.435 down $0.0925

- May soybeans $14.925 down $0.185

- May soybean meal $454.30 up $3.70

- May soybean oil 54.53 down 69 points

- May Chicago wheat $6.755 down $0.065

- June live cattle $163.10 up $2.80

- June lean hogs $88.17 down $0.20

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The Indiana Soybean Alliance held the award ceremony for the annual Student Soybean Innovation Competition last week. The event is put on by the Indiana Soybean Alliance every year. Purdue students can sign up for the competition at the beginning of the school year. They form teams of up to 4 students and then those teams come up with a novel product made from soy.

Brit Walker, a business manager with ADM has judged the competition for several years. He says the competition focuses on developing students, future innovators, and new uses for soybeans. 

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Founded 55 years ago, Casey’s General Stores has a commitment to providing safe, reliable, and sustainable fuels. In recent years, the company has taken steps to expand alternative fuel options and is now offering biodiesel at more than 1,000 locations across its footprint.

In this episode of Fueling Conversations, Nathaniel Doddridge, vice president of fuels for Casey’s, discusses how the company is rooted in rural communities in the Midwest, making it natural to support a Midwest soy-based biodiesel industry. 

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