John Perkins

Mar. corn closed at $4.43 and 1/2, down 1 and 1/2 centsJan. soybeans closed at $9.76 and 3/4, down 5 and 1/4 centsJan. soybean meal closed at $287.20, up 30 centsJan. soybean oil closed at 40.62, down 110 pointsMar. wheat closed at $5.45, down 5 centsFeb. live cattle closed at $189.75, down 22 centsJan. feeder […]

U.S. ethanol production crept higher last week. The U.S. Energy Information Administration says production averaged 1.103 million barrels per day, an increase of 25,000 on the week and 32,000 on the year. Iowa State University’s Center for Agricultural and Rural Development says the estimated operating margins for the average Iowa plant have narrowed and sit […]

2024 broiler sets and placements remain on a faster than 2023 pace.

Soybeans were sharply lower on speculative and technical selling. Conditions in South America are favorable with Argentina and Brazil both on track for big crops. The USDA’s next round of supply, demand, and production numbers is out January 10th, while CONAB’s updated outlook for Brazil is set for the 14th. Very early harvest activity is […]

The USDA says corn and soybean export sales were up during the week ending December 12th. The week-to-week increases for beans, corn, and a few other key commodities were due to some buyers trying to get ahead of the holiday slowdown. Beef and pork were down on the week, typical for this time of year […]

Commercial red meat production was down during November 2024. The USDA says the monthly total of 4.564 billion pounds was 3% lower than November 2023 with slower slaughter rates for both cattle and hogs canceling out steady to higher average live weights. Beef production fell 3% to 2.217 billion pounds with a slaughter of 2.568 […]

Soybeans were higher on fund and technical buying. Contracts found some new interest near the recent mutli-year lows, helped out by good weekly sales and unknown destinations buying U.S. beans Thursday morning. The weekly total of 52.3 million bushels was up on the week, but lower than average, primarily to China and unknown destinations. Thursday’s […]

The USDA says placements of cattle into U.S. feedlots during November were down on the year. The total of 1.796 million head was 4% below November 2023, partially due to a tighter calf supply because of more aggressive placements earlier in the year. The late-month restrictions on cattle imports from Mexico because of the detection […]

The USDA says the total of 8.92 billion eggs was 4% lower than last year, with a 3% decline in the number egg laying hens to 375.752 million head and a 1% decrease in productivity to 2,374 eggs per 100 layers.

Soybeans were higher on fund and technical buying. Contracts continued to move off of the recent lows, but still ended the week with losses following Wednesday’s drop. Brazil’s recent moves to shore up their currency after a significant devaluation this year were also supportive. Near-term crop weather looks good in Brazil and slightly drier for […]