A feature story on the Ky Corn Grower’s Association sponsorship of the KY/TN CrappieMasters Tournament, May 13 and 14 on Kentucky and Barkley Lakes.  The association’s Adam Andrews comments on the group’s partnership which is geared to promote the use of an E-10 ethanol blend in marine engines, which is warranty-approved by manufacturers.     

CBOT futures made some big moves today and in opposite directions. Soybean meal was the big winner with 2% gains and this pulled soybean futures up 1%. Support came from unwinding the soyoil/meal spread and a stronger Brazilian Real relative to the US$. The spec funds are already long soybeans and happy to support this market. May Soybeans hit new highs for this move but stopped at key chart resistance at $9.295 (October high). In contrast, corn and wheat futures fell sharply. Conveniently, the speculators are also short these markets. Wheat was pressured by rain in the southern Plains and forecasts for more. While Chicago Wheat held above contract lows, Kansas City Wheat broke to new contract lows. Warmer and drier weather forecasts for the Corn Belt will get corn planters rolling. Today’s sharp drop wiped out the price gains earned the past 3-4 trading days.

Tomorrow, USDA releases its monthly updates to the WASDE supply-demand estimates.

Corn Planting Progress
.                     4/10/16          5-yr average
U.S.                   4%                    4% (1% last year)
KY                      6%                  10% (1% last year)
(TN=17%, MO=24%)

Winter Wheat Conditions – 18 States
.                 Good/Excellent        Poor/V.Poor
This Week            56%                  9%
Last Week             59%                  7%
Last year               42%                19%

Cattle futures closed lower on profit-taking after opening higher this morning – trying to add to Friday’s sharp gains. A strong beef market today could limit tomorrow’s losses. Choice carcasses closed up 1.65 at 216.45; Select up 1.80 at 207.05.

Lean Hog futures also closed lower. Losses were limited by a firm pork market and April LH futures being in line with the CME Cash Index. Packer margins in pork are pretty good, so the cash market should hold up. Selling pressure may be focused in the summer LH months given the large premium they have to the cash index. Today, FOB Plant Pork gained .37 to 77.17.

Corn May -5 357; Jly -5 360; Dec -6 369
Bean May +11 928; Jly +12 937; Nov +10 941
Meal +6 280
Oil -4 3390
Wheat May -13 447; Jly -12 454; Dec -11 479
JULY KC -16 454; MGE -11 518
Oats -2 185
Rice -10 984

LC Apr -30 13407; Aug -62 11895; Oct -47 11827
FC Apr -35 15555; Aug -112 15280; Oct -122 15027
LH Apr -47 6635; Jun -125 7962; Oct -45 6917
Milk Apr +2 1376; May +2 1369

US$ -.2%
Dow -21 17556
SP -6 2042
NAS -17 4833
Tran -37 7699
VIX +.90 16.26

WTI +64 4036
Brent +86 4280
Gas +4 150
NG -6 193
HO +1 121
Eth unch 151
Gold +14 1256
Slvr +55 1593

2-yr -.004 0.699%
5-yr -.002 1.158%
10yr +.003 1.725%
30yr +.004 2.561%

KFB’s Measure the Candidates Forum is highlighted on today's Farm Bureau Minute.  
Click here:   https://www.youtube.com/watch?v=AY7KTvZ2IE8

Another forum with the candidates is tonight at 6:30pm CT in Madisonville at the Ballard Convention Center. Please join us!
Kentucky Weekly Livestock Summary for the week of Apr 4-9, 2016.
Receipts
This Week     Last Week       Last Year
24,249            20,289           21,607
Compared to last week, Steer and Heifer calves traded unevenly steady to 5.00 lower with moderate to good demand for a plain to good quality offering. Most of the decline came later in the week as the CME futures trended lower. Yearling steers and heifers sold steady to firm early, but, untested the remainder of the week. Slaughter cows and slaughter bulls sold mostly 1.00 to 3.00 higher with moderate to good demand.

A report on this Thursday’s opening of the Pasture to Plate program to better prepare Kentucky cattle producers thinking about ‘finishing’ their livestock in state. UK beef specialist Jeff Lehmkuhler is featured with details the Ky Beef Network program with test cattle in to be housed in Princeton, Owen County and Morgan County.  

A follow-up report on the Ky Mesonet as it has just received a major grant to upgrade its software and instrumentation at county weather stations.  State Climatologist, Dr. Stuart Foster, explains the process is already underway and will also involve county buy-in from local entities. The Mesonet system provides communities and individuals with local weather data that’s updated every 15 minutes.

A feature report on what it takes to put on the Championship Tractor Pull each February during the National Farm Machinery Show in Louisville.  Tractor pull co-coordinator, Mike Whitt, comments on everything from the importance of just the right dirt for the track surface to how the event came to be in the first place.

A feature report on the growth in the Owen County 4-H country ham curing program; a direct reflection of the tremendous popularity this area has seen statewide within the youth group.  Owen County’s 4-H extension agent, Jessi Williams, talks about the expansion of their program and a recent ag development grant to help them build their own ham curing facility.   

GMO labeling continues to be discussed at the national level but whatever the outcome, local producers will be affected.