Ag News

Minnesota farmers are gearing up for the first cutting of alfalfa. University of Minnesota Extension crops educator Nathan Drewitz covers the central part of the state and says a cool start to the growing season slowed development. “We’re behind in terms of height (and) our quality is starting to come down, so I think we’re going to have lower yields and shorter stands to cut.” He tells Brownfield some alfalfa is ready depending on what the grower is looking for. …

The president of Iowa Farm Bureau believes his state has laid the blueprint for an E15 standard. Brent Johnson tells Brownfield there’s no doubt other states will be looking at the Biofuels Access Bill recently signed into law and want to emulate what Iowa has done. “This is the first time that we’ve got an E15 standard, and with the challenges of higher fuel prices (and) some of the regulatory challenges, I think it’s important that other states look at solutions that they can take upon themselves.” The new law will require most Iowa gas stations with storage tanks and pumping systems that can handle higher blends of ethanol to offer E-15 from at least one pump by 2026, and new gas stations will have to sell E-15 from at least half of their dispensers. …

Soybeans were mostly modestly higher, finishing the week with solid gains. Beans consolidated, watching planting conditions, with markets closed on Monday for Memorial Day. That pushes the USDA’s weekly export inspections and crop progress and condition reports back to Tuesday. A big chunk of those planting concerns is tied to North Dakota, one of the biggest soybean producers in the U.S. Crush margins have dipped, but remain in positive territory, and the fundamental outlook is bullish for soybeans and products. …

Chicago Mercantile Exchange live cattle futures were mostly lower ahead of the long holiday weekend, while feeders were pressured by the rally in corn. June live was down $.22 at $132.17 and August was $.20 lower at $132.40. August feeders were down $.35 at $166.32 and September was $.42 lower at $169.30. Cash cattle trade was quiet on Friday with most business already wrapped up after Tuesday’s deals. Southern deals for the week came in mostly $1 lower than the prior week’s weighted averages at $137 while Northern dressed trade took place mostly at $223, $3 lower than last week’s weighted average basis in Nebraska. …

Governor Walz has signed the agriculture omnibus bill into law. Minnesota Farmers Union government relations director Stu Lourey says more than $18 million in drought relief is included in the legislation. “Which the Governor first proposed in October of last year (and) we asked for it in August, and he’s been eager to get that on his desk throughout this entire session.” The ag bill also provides $1.5 million to the Agricultural Emergency Account to support animal disease preparedness and response, and more than $1 million to create a down payment assistance program targeted toward beginning farmers. …

Jul. corn closed at $7.77 and 1/4, up 12 and 1/4 centsJul. soybeans closed at $17.32 and 1/4, up 5 and 3/4 centsJul. soybean meal closed at $432.30, up $4.10Jul. soybean oil closed at 79.57, down 95 pointsJul. wheat closed at $11.57 and 1/2, up 14 and 1/4 centsJun. live cattle closed at $132.17, down 22 centsJun. lean hogs closed at $110.40, down 70 centsJun. …

Photo: (L-R) USDA Deputy Secretary Jewel Bronaugh, Wisconsin Farmers Union President Rick Adamski, Wisconsin Farm Bureau President Kevin Krentz, Wisconsin FSA State Director Eugene Schriefer The USDA Deputy Secretary told a Friday farmer mental health roundtable that rural mental health care funding remains a priority.  Jewel Bronaugh says USDA was fortunate to get funding in last farm bill they could use to help state ag departments establish farmer mental health networks.  …

June Class III Milk futures on the Chicago Mercantile Exchange closed 26 cents higher at $24.51.  July up 23 at $24.60.  August futures up 18 at $24.36.  September through November contracts 23 to 27 cents higher. Dry whey up $0.0125 at $0.5225. Blocks steady at $2.28. Barrels up $0.01 at $2.2950. Butter down $0.0125 at $2.8775.  Four trades were made ranging from $2.87 to $2.89. Nonfat dry milk up $0.0050 at $1.86. …