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Climate Outlook for January 2015

Review of the new long range climate outlooks released today from the National Oceanic and Atmospheric Administration's (NOAA) Climate Prediction Center indicate that the wide variability in temperature swings of fall and winter are likely to continue; and the potential for a weak El Niño lingers, explained Dennis Todey, South Dakota State Climatologist & SDSU Extension Climate Specialist.

Markets

Commodity markets moved mostly lower Friday morning

Corn traders seem to be taking profits before the weekend. Despite continued equity market strength and a more stable currency situation, as well as more evidence of Russian government moves to curtail its wheat exports, the crop markets have turned decidedly lower night. Corn futures followed wheat downward, thereby seeming to reflect bullish profit-taking and farmer selling in the wake of this week’s gains. March corn futures dipped 2.25 cents to $4.0875/bushel late Friday morning, while July lost 2.5 to $4.2375.

News

Agriculture's self-esteem problem

Farmers are professionals. Farmers are small business owners. If you start your own farm, you are an entrepreneur. I am proud to be a farmer! Why aren’t more farmers?

Markets

Emergency measures in CME cattle futures market bring support

Rarely used emergency measures to ease volatility in livestock futures provided support for the market on their first day of implementation on Thursday, making it unlikely the Chicago Mercantile Exchange will continue to use them as it was forced to do a decade ago, the last time it took such steps.

Industry

Vilsack abandoning duplicative beef checkoff proposal

In the waning hours before Santa comes to town, U.S. Secretary of Agriculture Tom Vilsack is doing what he can to stay off the dreaded naughty list by announcing he will abandon recent efforts to create another beef checkoff under the 1996 general commodity checkoff law.

Markets

Crop markers proved surprisingly weak Thursday night

Corn bulls may be taking profits before the weekend. Despite continued equity market strength and a more stable currency situation, as well as more evidence of Russian government moves to curtail its wheat exports, the crop markets turned decidedly lower Thursday night. Corn futures followed wheat lower, thereby seeming to reflect bullish profit-taking in the wake of this week’s gains. March corn futures dropped 6.0 cents to $4.05/bushel early Friday morning, while July lost 6.0 to $4.2025.

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