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WEEKLY COMMODITY REPORT

02/09/2018

According to the January 12th 2018 WASDE release, 82.7 million acres of corn will be harvested in 2018 to yield 14.60 Billion bushels. The soybean crop is projected to attain 4.39 Billion bushels from 89.5 million acres harvested.

 

On Friday, February 9th 2018 at close of trading on the CME, the following rounded quotations for corn, soybeans and soybean meal were recorded, together with the bracketed value for the previous week. Futures suggest stable ingredient prices going forward.

 

COMMODITY

 

Corn (cents per bushel)

March ’18  362  (361)        

July  ‘18     377  (376)            

Soybeans (cents per bushel)

March ’18  984  (978)    

July  ’18  1,004  (999)      

Soybean meal ($ per ton)

March ‘18  334  (331)

July ’18      348  (338) 

 

Changes in the price of soybeans and soybean meal this week were:-

Corn:                     March quotation up 1 cents/Bu.                  (+0.3 percent)

Soybeans:            March quotation up by 8 cents/Bu.            (+0.6 percent)

Soybean Meal:    March quotation up by $13/ton.                 (+3.9 percent)                                  

 

  • For each 10 cent per bushel change in corn:-

 

The cost of egg production would change by 0.45 cent per dozen

 

The cost of broiler production would change by 0.25 cent per pound live weight

 

 

  • For each $10 per ton change in the price of soybean meal:-

 

The cost of egg production would change by 0.40 cent per dozen

 

The cost of broiler production would change by 0.25 cent per pound live weight

 

See WASDE posting on CHICK-NEWS under the  STATISTICS tab summarizing the February 8th USDA-WASDE Report #574, reviewing price projections and quantities of commodities to be produced during the 2018 season.