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Hay Market Demand And Price Report For The Upper Midwest As Of April 24 , 201 7

Demand and Sales Activity

Overall the hay marke t was $5.00/ton lower this week . There were limited sales of small square bales that were above average. Lower quality hay has been discounted at local markets. W et weather is delaying cattle going to pasture and there is little pasture available at this time , which may require farmers to purchas e supplemental feed short term .

For Nebraska , demand is light, hay prices are steady. Farmers have ha y available for sell that will be carried over for next year. Spring tillage and alfalfa planting has begun .

For Iowa , p rices we re steady while dairy quality hay is in short supply at the market . Warming temperatures have farmers looking to get cattle on g reen grass . Winterkill concerns are spotty and not as bad as first thought.

In South Dakota , buyer demand is light with weaker undertones on price . Quality of hay available is average. There is demand for quality hay at higher prices. Bedding materials are in light demand . Row crop guys will be planting as soon as weather allows them . Monday will be the last Monday sale of the season. In I llinois , no reports this week .

For Missouri, hay movement is ve ry light with piles of hay to be carried over . There are a few hay donations going to wildfire areas. Demand is light, prices are steady to weak. Many have hay fields fertilized , but wet weather is delaying field work and planting is slightly behind the fi ve year average at this time.

In Southwest Minnesota, adequate supplies of average quality hay with steady prices . There is a lack of quality hay at the auction. In Wisconsin , o verall prices were steady with reduced prices on lower quality hay .

Quality hay will bring a good price; overall it is a buyer’s market. E xport report April 14 , 2017, 2450 tons were exported this week, d epending on quality price ranged from $ 1 0 5 .00 - $ 14 0 .00 per ton from USDA. S traw prices we re steady this week . Small square bale straw price a verag ed $ 3 . 00 a bale this week (range of $ 1 . 0 0 to $ 6.00 ) . L arge square bale price was $ 2 3 . 0 0 per bale (range of $ 10 . 00 to $ 40 .00 ) . L arge round bale s decreased about $5.00 a bale and averaged $ 2 0 .00 per bale (range of $ 1 7 .00 to $ 29 .00) .

Source:uwex.edu


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Agricultural Market Update: Grain Prices, Crop Conditions, and Weather Impacts

Welcome back to our channel where we provide comprehensive updates on the latest trends and changes in the agricultural sector. This week, we're looking at significant movements in grain prices, crop conditions, and the effects of weather patterns. Let's dive into the details:

Grain Price Decline Grain prices have fallen to their lowest levels since 2020, with December corn down 4.3% and November soybeans losing 3.1%. This decline is partly due to the beneficial moisture brought by Hurricane Beryl to the Midwest, which has improved crop conditions significantly. The USDA reported that corn and soybean crops are in their best condition in four years, contributing to the downward pressure on prices.

Record Short Positions and Market Sentiment Fund traders have increased their net short positions in the corn market to a record level, with a net short of 347,000 contracts of corn. This reflects a bearish sentiment in the market, further influencing grain price dynamics. Similar selling trends were observed in soybeans and SRW wheat, indicating broad market caution.

Weather Impact and Forecast Hurricane Beryl has brought significant rainfall across Arkansas, Missouri, western Tennessee, western Kentucky, and southern Illinois, with more expected over Missouri, Illinois, and Indiana in the coming days. Despite this, the market is currently more focused on the moisture benefits rather than potential heat risks forecasted in the 6-10 and 8-14 day periods.

US Crop Conditions Corn and soybean conditions have shown slight improvements last week, with corn rated 68% good to excellent and soybeans at 68%. These are among the best ratings for this time of year since 2020, suggesting robust crop health that could continue to influence grain prices.

Winter Wheat Harvest and Spring Wheat Conditions The US winter wheat harvest is progressing well, ahead of schedule with significant portions already harvested in Kansas and Texas. Spring wheat conditions are also favorable, with 75% rated good to excellent, although there have been some declines in states like Idaho, South Dakota, and Washington. Brazil's Corn Harvest and US Exports Brazil's second corn crop harvest is advancing rapidly due to favorable hot and dry conditions, with 63% of the crop already harvested. Meanwhile, US corn shipments saw a substantial increase last week, indicating strong export demand, which contrasts with the recent drop in domestic grain prices.

Ongoing Developments Lastly, the USDA reported a flash sale of corn, with significant quantities sold to unknown destinations, scheduled for delivery over the next two marketing years. This could signal ongoing international demand for US corn despite lower prices.

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