The second is seeded after the soybean harvest in the last half of February and harvested in June.

The first is seeded in the fall and harvested in January and February. The USDA is factoring in a year-over-year increase in exports at a time when Brazilian output is expected to reach a record high. December corn futures have potential to trade between $4 and $5 per bushel, down from the current level around $5.66. If ending stocks are above the five-year average, the market will likely trade below the five-year average. ending stocks for the 2023/24 crop year are expected to finish near 48 million tonnes, up from 32 million in 2022/23 and above the five-year average of 45 million. The market will function to encourage demand through lower prices. This would be the second-largest crop on record after 385 million in 2016. corn production has potential to reach 383.2 million tonnes, up 34.4 million tonnes from 348.8 million last year. Using a traditional abandonment rate and a trend yield of 181.5 bu./ac., U.S. farmers are expected to plant 91.0 million acres of corn in the spring of 2023, up 2.4 million acres from last year. 23-24, the government organization released its outlook for the 2023/24 crop year. Planting outlookĪt the USDA Ag Outlook Forum held Feb. corn and Canadian barley, the feeder cattle futures have upside potential of $25-$30/cwt. At this stage, the coarse grain complex looks burdensome. It is a good time to review the outlook for feed grain complex come this fall. In addition to the higher futures, corn basis levels have been historically strong over the winter, resulting in lofty cash prices. while the December corn futures were trading at $5.67/bu. In March 2023, the nearby May corn was trading at $6.27/bu.

In October 2014 corn futures were trading in the range of $3.50 to $4.00/bushel. The November feeder cattle futures are $20 shy from all-time high.įeeder cattle futures do not move in tandem with the live cattle market because of the corn market. The historic high on the feeder futures occurred during October 2014 when the market reached $245/cwt. While the April live cattle futures are making fresh all-time highs, the November feeder cattle futures have been trading around $220/cwt. I thought it might be interesting to share a winter watering system we put in place on our farm. “Otherwise, there is concern that the virus could spread further, and cause the livestock industry to suffer even greater financial losses,” added the attaché.Used mining tires serve as water reservoir According to local livestock producers, it is critical to complete that campaign and resume the movement of animals ahead of upcoming holidays The ag ministry announced in early March that it had developed a vaccine against the SAT-2 serotype and would immediately begin vaccinating susceptible animals. Turkey has dealt with FMD cases in the past and has struggled to completely eradicate the virus, given the intensive movements of livestock inside the country and unofficial movements from neighboring countries to the south and east. “The detection of this new FMD strain comes at a time when the country’s livestock industry is reeling from the effects of the devastating earthquakes as well as tough economic conditions that forced many farmers to prematurely liquidate their livestock inventories,” commented the USDA FAS attaché. “Turkish livestock producers worry that this FMD serotype will seriously affect meat and milk yields, which will continue to put upward pressure on already high retail prices for these items. In response to the detection, the ag ministry has implemented various measures to halt the spread of the virus. Though media reports suggest there may be additional cases in other parts of the country, noted a report from the Foreign Agriculture Service (FAS) of the US Department of Agriculture (USDA). The cases were detected in the eastern half of Turkey. The officials notified the World Organization for Animal Health (WOAH) of their discovery on March 8.

Cattle range