We strive to assist farmers in better managing their revenue and helping them gain back control. If you have clients that need professional consultation and guidance, please get me in touch with them. As a leader in this industry, Total Farm Marketing can help your clients implement and manage a range of marketing tools, such as Milk Plant & Elevator Contracts, Hedging Tools, and D-RP. We know that every operation’s needs are unique, so we provide assessment consultations, webinars, group presentations, education, and individual management consultations to help meet their goals. Find resources here: Webinars & Events

Together, let’s work to keep these dairy men and women in the game. 

Contact: Michael Rusch
Sales Director | Total Farm Marketing
Direct: 262.438.0323 | Text: 262.334.9779 | Email: Mike@TFM.ag

Milk

Milk futures ended the week on a high note despite some volatility throughout the week. On Friday, the October class III milk contract (currently the second month contract) gained 53c to post a weekly close of $19.57. This keeps the weekly up streak alive, putting it in the green by 36c this week. It has now been four weeks in a row of green prices for October class III. The class IV milk market also had a strong finish to the week with the October contract posting a limit up day on Friday. The reason for the rallying milk futures links back to the spot dairy market. Demand has been steady to strong in recent sessions. This buying demand may stem from the fact that the government announced another $1 billion of product purchases.

Corn

Corn futures had yet another strong week of trade, gaining 10c and moving higher for the fifth week out of the past six. The rally now brings the December contract up to $3.7850 per bushel, which is its highest weekly close since the week of March 7th. It is impressive to see corn rally through farmer selling like this. Good weather for harvest is likely keeping farmers active while making sales into the rally. There also continues to be a good amount of China buying of U.S. products, as well as from “unknown destinations”. The market will watch for Monday’s Crop Progress report put out by the USDA to see how harvest progress is coming along.

Soybean Meal

Soybean meal futures shot higher this week with the December contract adding a whopping $17.50 per ton. It’s closing price came in at $342.10, which is the contract’s highest weekly close since February of 2018. This was the fifth up week for soybean meal out of the past six weeks. Support came from soybeans and the fact that the November contract added 47.50c in total this week. Talk that the $13 billion farm stimulus package could ease producer selling in the short term helped fuel the bulls. However, the market conditions for the soybean complex lean overbought so caution should be taken moving forward. A technical pullback could be on the way.

Market Quotes