In the News

The next issue of Agri Marketing will include salutes to NAMA's leaders of the year: Scott Druker, Arm & Hammer, Sara Steever, Paulsen and Dennis Slater, AEM. To schedule your congratulatory ad, contact Audrey Evans: AudreyE@AgriMarketing.com

ADVERTISEMENT

Connect: Tell Your Brand Story

When you can't hold your regular customer events and meetings, we are ready to keep you connected. Your marketing goals can stay on track with our Virtual Event services that will keep you in touch with your customers and can develop new sales opportunities.

Already popular with many marketers, from audience development to online video session execution, Farm Progress and its Informa Markets Digital Event Team can expertly produce a live virtual event for you.
Read More

WEEKLY COMMODITY HIGHLIGHTS

Nearby Futures	Weekly Change	Friday's Close	Year Ago
Corn	-0.0750	3.2925	3.6700
Soybeans	-0.2875	8.4225	8.9250
Wheat	-0.2375	5.3375	4.5025
Cattle	+1.93	86.30	122.38
Hogs	-4.95	43.73	96.13
Cotton	-1.54	52.86	78.96
Milk	-0.64	12.18	15.88
Crude Oil	-3.71	25.11	63.87

The grain and oilseeds complex remained on the defensive as the coronavirus and economic fallout continued to weigh on commodity markets. Corn fell to new contract lows, as the ongoing collapse in the ethanol industry is accompanied by concerns about a plunge in feed demand. The closure of some beef and pork processing plants in the Midwest is fueling concern about feed demand. As for ethanol, weekly production tumbled again in the week ended April 10, and has fallen by almost half since late February. Valero announced it was shuttering eight of its ethanol plants and slowing production at the other six. As fuel demand plunges so are crude oil prices. Crude fell to historic lows despite an OPEC deal to cut production. Soybeans, wheat and cotton also fell on the week. Recent export demand has been weak, particularly for cotton. U.S. planting is off to a somewhat sluggish start, but the forecast for the rest of April and early May is starting to look more favorable. A key question for the grains complex going forward is how close farmers will get to planting 97 million acres as indicated in USDA's Prospective Plantings report. USDA on Friday announced $19 billion in relief for ag producers, with a focus on livestock and dairy producers.

In the livestock complex, lean hog futures fell amid plant closures as the coronavirus spread among employees. This included closure of Smithfield's Sioux Falls pork plant, which accounts for nearly 5% of the nation's pork production. Several hundred employees at the plant have tested positive, making it one of the nation's "hotspots" and raising questions about food security. Similar situations have developed in other pork and beef plants across the Midwest. For hog producers, the shutdowns have prompted talk of euthanizing animals. Meanwhile consumer demand for meat has leveled off after an initial surge at retailers.

Click on the Brock logo or call 1-800-558-3431 for more info on our services.