Brownfield Commodity Market Reporter John Perkins has your look at what sent corn, soybeans, wheat, and hog futures lower and how cattle closed mixed.

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- May corn $6.30 down $0.03

- May soybeans $14.67 down $0.19

- May soybean meal $460.60 down $2.10

- May soybean oil 56.24 down 175 points

- May Chicago wheat $6.8325 down $0.175

- April live cattle $162.42 up $0.40

- April lean hogs $77.05 down $0.72

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Continual drought pressure can make crop selection a challenge. 

In this Managing for Profit, Ryan Bryant-Schlobohm, UPL Technical Services Manager, shares how a crop like herbicide-tolerant forage sorghum can provide great options for farmers and livestock producers.

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This week, Will and Ben discuss how the extension of the Black Sea trade corridor will impact commodity markets.

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Market recap (changes on week):

- May corn up $.20 at $6.33

- December 2023 corn up $.03 at $5.60

- May soybeans down $.05 at $14.86

- November soybeans down $.30 at $13.09

- May soybean oil up 2.13 cents at 57.99 cents/lb

- May soybean meal down $29.50 at $462.70/short ton

- May wheat up $.28 at $7.00

- July wheat up $.13 at $7.08

- June WTI Crude Oil down $6.85 at $68.06/barrel

Weekly highlights:

- US ethanol production was up ever so slightly again last week and just below 300 million gallons. US stocks of ethanol continue to move higher and sit at the second highest volume since the pandemic. Gasoline demand was flat on the week.

- There were more than 83 million bushels of announced flash corn sales for the current marketing year to China over a four-day period last week. Those sales will become official in this coming weekly report. However, for last weeks export sales recap- corn sales were down week over week while grain sorghum, soybeans, and wheat were all up week over week.

- USDA’s Cattle on Feed Report last Friday showed all US cattle on feed as of March 1 at 95.5% of the inventory last year and right around the pre-report trade estimates. February placements were at 92.8%.

- Commitment of Trader data is still getting caught up after their data breach in January- however, for the data we do have- corn has worked away all of the net long positions it held at the start of the year. There are still sizable net long holdings of soybeans.

- The Black Sea Grain Initiative was officially extended for another 120 days over the weekend, despite Russian objections.

- Ag Export inspections were largely as expected this week with corn, soybeans, grain sorghum and wheat all up week over week.

Topics:

- Market recap

- Russian Ukrainian grain corridor extended

- Continued Black Sea uncertainty

- Federal Reserve moving forward

- Reports to watch

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Maciej Kazula, Minnesota Corn's Research Director, provides an overview of the research projects the organization is funding in 2023.

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

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- May corn $6.33 down $0.0125

- May soybeans $14.86 up $0.095

- May soybean meal $462.70 down $3.30

- May soybean oil 57.99 up 53 points

- May Chicago wheat $7.0075 down $0.0975

- April live cattle $162.02 down $0.30

- April lean hogs $77.77 down $2.10

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GrowNextGen is the “go-to” place to find great resources to connect agriculture with mainstream science classes in Ohio. In this Best of Voice of Soy we hear from Jeanne Gogolski, one of the leads with the GrowNextGen project. 

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Enlist field specialist Steve Snyder says farmers are seeing a shift in weed species as different cultural practices and herbicide programs result in a changing landscape to manage.

He tells Brownfield in North Dakota for example, waterhemp is appearing on acres that never had the weed before. Snyder says there are several ways to stay one step ahead of the weeds.

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

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- May corn $6.3425 up $0.015

- May soybeans $14.765 down $0.15

- May soybean meal $466.00 down $8.00

- May soybean oil 57.46 down 27 points

- May Chicago wheat $7.105 up $0.115

- April live cattle $162.32 down $0.02

- April lean hogs $79.87 up $0.42

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John Deere precision ag marketing leader Matt Olson says when everything on the farm is being tracked, producers can truly grasp what’s working and what’s not.

And he tells Brownfield John Deere offers technology to ensure the bottom line is as strong as possible.  

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