3 big things for today

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3 big things for today

SASKFARMER3's Avatar Mar 14, 2019 | 06:16 1 1. BEANS, CORN LITTLE CHANGED OVERNIGHT ON TRADE UNCERTAINTY

Soybeans and corn were again little changed amid ongoing uncertainty about trade talks between the U.S. and China.

Bloomberg reported Wednesday that a planned meeting between presidents Donald Trump and Xi Jinping may not happen this month.

Trump said yesterday he was in “no rush” to complete a trade agreement with China, saying there won’t be a deal unless it includes protections for intellectual property, which has been a point of contention in the talks.

Negotiators from the world’s two largest economies have met several times in the past few months in a bid to end the tit-for-tat tariffs they’ve imposed on each other. A March 1 deadline set by the White House came and went without an agreement, and now it looks like negotiations could drag on without an end in sight.


State-run Xinhua News Agency reported this week that negotiators from both sides have had phone conversations to determine the next step of a deal, but no official news from the White House has been released.

Soybeans for March delivery fell 1 14¢ to $8.99 ¾ a bushel overnight. Soy meal gained 50¢ to $305.20 a short ton and soy oil dropped 0.19¢ to 29.74¢ a pound.

Corn for March delivery gained 1/4¢ to $3.66 ¾ a bushel in Chicago.

Wheat for March delivery rose 3 1/2¢ to $4.50 ¾ a bushel while Kansas City futures added 3¢ to $4.39 ¾ a bushel.


2. ETHANOL PRODUCTION FALLS TO THREE-WEEK LOW IN SEVEN DAYS THROUGH MARCH 8

Ethanol production dropped the lowest level in three weeks while inventories declined in the seven days that ended on March 8, according to the Energy Information Administration.

Output off the biofuel fell to an average of 1.005 million barrels a day last week, the EIA said in a report. That’s down from 1.024 million barrels, on average, the previous week and the lowest amount since Feb. 15, government data show.

In the Midwest, the biggest producer of ethanol by far, output averaged 936,000 barrels a day, down from 952,000 barrels the previous week.

Gulf Coast production declined to 14,000 barrels a day from 17,000 last week and West Coast output fell to an average of 15,000 barrels a day from 17,000, the EIA said.

East Coast production rose to 26,000 barrels a day from 25,000, and Rocky Mountain output rose to 14,000 barrels from 13,000 the prior week, the government said.

Stockpiles of ethanol, meanwhile, dropped to 23.731 million barrels last week. That’s down from 24.261 million barrels seven days earlier, the EIA said.

3. MORE SNOW, STRONG WINDS FOR NEBRASKA, DAKOTAS AS WINTER STORM RAGES ON

A blizzard continues blasting parts of North Dakota, South Dakota and Nebraska today as more snow and strong winds are expected.

An additional 2 to 4 inches on top of what’s already fallen is expected today and wind gusts will be as high as 65 miles an hour in parts of Nebraska and South Dakota, according to the National Weather Service. The combination will create blowing and drifting snow and create dangerous conditions.

Wind speed will decrease gradually as the day goes on, the NWS said in a report early this morning.

In North Dakota, total snow accumulations of more than a foot are possible in areas along with a light glaze of ice.

Wind gusts are pegged as high as 60 miles an hour, the agency said. Reply With Quote
SASKFARMER3's Avatar Mar 14, 2019 | 06:22 2 For canada the liberals stopped continued investigation and aren’t recalling original witnesses. So she can’t speak to defend herself. So the liberals are hypocrite, on women’s rights.

Well what a kangaroo court.

Second Trudeau thinks he’s a prince and can fly all around the world on tax payers dime. Well that wouldn’t be bad but Canadians are getting hit with a carbon tax. Hypocrite I would say.

Third Canola is in trouble to say the least and Trudeau doesn’t even have it on his radar. His Ag minister is touring wineries and maple syrup farms. Reply With Quote
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  • SASKFARMER3's Avatar Mar 14, 2019 | 06:43 3 Reply With Quote
    SASKFARMER3's Avatar Mar 14, 2019 | 07:57 4 This Canola thing is huge.

    Wake up it’s going to not end well for Canada.

    And the Canadian media is silent. Reply With Quote
    Mar 14, 2019 | 08:06 5
    Quote Originally Posted by SASKFARMER3 View Post
    This Canola thing is huge.

    Wake up it’s going to not end well for Canada.

    And the Canadian media is silent.
    I have neighbors with either a canola-wheat rotation or a canola-wheat-wheat rotation. Most look at the canola as the most profitable. A sustained drop from $11 a bushel to $10 eliminates 30-50% of their profit margin. So yes it certainly is huge! Reply With Quote

  • SASKFARMER3's Avatar Mar 14, 2019 | 09:24 6 With the cost of canola seed, fert, Chem. disease control all out of this world canola at 9 is a money loser and even worse if you only grow 25 to 40.

    All the fake insurance in the world won’t cover it. Try collecting once.

    So my problem is why is this national news.

    First they go after oil and actually succeeded in destroying Alberta. Nut case helped.

    Second poor planning with Vancouver and trains and ships and pipelines etc. Their plan was chaos. Some plan.

    Third go after ag and this one I think they actually didn’t go after they are just that incompetant to not realize make fun of trump he will f$&k you totally. Trudeau is to stupid to realize this till it was to late. Reply With Quote