PAGE 30 – Monday, March 25, 2013 / AGWEEK
MARKETS
FROM THE HILL
FRIDAY LOCAL CASH GRAIN PRICES Ayr, N.D. Beach Bismarck Bottineau Cando Cooperstown Edgeley Fortuna Gladstone Grand Forks Hankinson Harlow Harvey Hatton Jamestown Manvel McVille New Salem N.D. Mill Northwood Plaza Regent Rugby Russell Scranton Sheldon Stanley Thompson Tuttle Walhalla West Fargo Williston Brookings, S.D. Chamberlain Huron McLaughlin Philip Redfield St. Lawrence Watertown Billings, MONT. Glasgow Glendive Havre Miles City Alvarado, MINN. Argyle Beltrami Breckenridge Crookston Erskine Fergus Falls Fosston Garfield Kragnes Marshall Morris Pipestone Roseau Shelly Walnut Grove Wheaton Mpls.-Duluth Portland, ORE AVERAGES Cargill Corn: Bid Basis
Springwheat Winter Durum now new Wht 12% No. 1
7.77 7.84 ..... 7.61 7.61 7.49 7.61 7.65 7.88 7.81 7.76 7.59 7.77 7.64 7.77 7.86 7.66 7.72 8.06 7.57 7.67 7.54 7.60 ..... 7.87 7.67 7.67 7.72 7.44 7.59 ..... 7.40 7.67 7.81 7.91 7.86 7.49 7.83 7.68 8.02 ..... ..... ..... 8.32 7.95 7.81 7.82 ..... 7.76 7.91 7.83 7.66 7.82 8.21 7.67 ..... ..... ..... ..... 7.82 ..... 7.75 9.21 9.51 7.81 Mar 7.01 -25
7.48 ..... ..... 7.01 7.26 ..... ..... ..... 7.36 7.41 7.56 7.31 7.36 7.26 7.36 ..... 7.31 ..... ..... 7.31 7.01 7.31 ..... ..... 7.31 ..... 7.31 ..... 7.19 ..... ..... 7.56 ..... 4.97 7.43 ..... 7.60 7.43 7.66 ..... ..... ..... ..... 7.19 7.36 ..... ..... 7.56 7.39 7.41 ..... 7.46 ..... 7.41 ..... ..... ..... ..... 7.51 ..... 7.66 ..... ..... 7.30 Apr 7.04 -22
6.67 7.29 ..... 7.11 ..... 6.84 7.21 7.20 7.34 ..... ..... 6.76 ..... ..... ..... ..... 7.10 6.95 ..... ..... 7.12 6.73 6.80 ..... ..... 7.22 ..... ..... ..... ..... ..... 6.89 6.94 7.52 7.52 7.34 7.26 7.52 7.42 7.81 ..... ..... ..... 7.72 7.47 ..... ..... ..... ..... 7.38 ..... ..... 7.07 ..... ..... ..... ..... ..... ..... ..... ..... ..... 8.21 9.01 7.29 May 7.09 -17
..... 7.80 ..... 7.80 ..... ..... ..... 7.75 7.85 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 7.75 7.85 ..... ..... ..... ..... ..... ..... ..... 7.35 ..... 7.80 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 7.74 Jun 7.09 0
Barley malt feed
..... ..... ..... 5.50 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 5.50 ..... 5.30 ..... ..... ..... ..... ..... ..... 5.35 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 5.90 ..... ..... ..... 5.40 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 5.49 Jul 14.00 0
Corn now
Corn new
..... 6.96 5.00 ..... 6.90 ..... 5.25 6.81 ..... 4.95 6.66 4.60 5.00 6.71 ..... 5.00 6.74 ..... 4.80 6.81 ..... ..... ..... ..... ..... ..... ..... ..... 6.86 5.00 ..... 6.98 5.15 5.95 6.76 4.93 4.90 6.81 4.95 ..... 6.91 4.90 ..... 6.86 5.00 ..... ..... ..... 5.65 6.86 4.90 5.05 6.70 ..... ..... ..... ..... 5.00 6.80 4.90 4.90 6.71 4.65 4.95 ..... ..... 5.00 6.65 ..... ..... ..... ..... ..... ..... ..... ..... 6.91 5.02 ..... ..... ..... ..... 6.81 4.90 4.85 6.55 ..... 4.85 6.71 4.79 ..... ..... ..... 4.95 ..... ..... ..... 7.12 5.16 ..... 7.08 ..... ..... ..... ..... ..... 7.10 4.93 ..... ..... ..... ..... 7.06 4.96 ..... 7.02 4.90 ..... 7.06 5.10 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 4.75 6.66 ..... ..... ..... ..... ..... ..... ..... ..... 7.02 5.15 4.90 6.91 4.99 ..... 6.81 5.05 ..... 7.00 ..... ..... 6.86 4.95 6.00 6.96 ..... ..... 6.93 5.00 ..... 7.27 ..... ..... 6.99 ..... ..... 7.26 5.20 ..... ..... ..... ..... 6.91 5.01 ..... 7.39 5.20 ..... 6.98 5.15 5.25 7.10 ..... ..... 15.28 ..... 5.10 7.10 4.98 Sep Oct Nov 5.40 5.17 5.25 -25 -48 -40
Oats now
..... ..... 3.56 ..... ..... 2.70 3.10 ..... ..... ..... ..... ..... ..... ..... ..... ..... 3.20 3.55 ..... .....
Flax now
..... ..... 14.60 14.15 14.10 13.50 13.90 14.25 ..... ..... ..... ..... 14.35 ..... ..... ..... 13.95 13.75 ..... ..... 14.60 14.05 14.40 ..... ..... ..... ..... ..... 14.20 ..... ..... ..... ..... ..... ..... 11.75 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... .....
Canola Sunseeds Soybeans now nuSun now new
..... ..... ..... 26.95 26.59 ..... ..... 26.26 ..... ..... ..... ..... 27.01 ..... ..... ..... 27.10 ..... ..... ..... 26.85 2.85 ..... ..... 27.10 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 3.00 ..... 3.51 27.68 ..... ..... ..... ..... 4.25 ..... ..... ..... ..... ..... 2.70 ..... ..... ..... ..... ..... ..... ..... 4.40 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 3.06 ..... ..... ..... 4.00 ..... 3.61 ..... ..... 4.00 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 3.43 13.97 26.94 Dec Jan Feb 5.25 5.30 5.32 -40 -44 -42
..... ..... 20.75 20.60 ..... ..... 21.35 ..... 20.55 ..... ..... ..... ..... ..... ..... 21.80 21.55 20.80 ..... ..... 20.55 20.55 20.60 ..... ..... ..... ..... ..... ..... 21.10 ..... ..... ..... ..... ..... 20.55 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 20.30 ..... ..... 22.00 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 20.93 Mar 5.37 -37
13.81 ..... ..... 13.50 13.75 13.53 13.85 ..... ..... 13.60 14.10 13.83 13.71 13.66 13.81 13.60 13.65 13.49 ..... 13.66 13.61 ..... 13.60 ..... ..... 13.91 ..... 13.71 13.33 13.56 ..... ..... 14.25 14.03 14.05 13.68 ..... 14.04 13.83 14.15 ..... ..... ..... ..... ..... 13.65 ..... ..... 13.90 13.68 13.55 14.02 13.71 14.08 13.84 14.35 14.10 14.36 ..... 13.60 14.40 14.10 ..... ..... 13.82 Apr 5.47 -35
11.84 ..... ..... 11.58 11.73 0.00 ..... ..... ..... 11.84 11.94 11.78 11.84 11.74 11.89 ..... 11.74 ..... ..... 11.69 11.64 ..... ..... ..... ..... 11.84 ..... 11.84 ..... 11.64 ..... ..... 11.86 ..... 11.81 11.54 ..... 11.86 11.78 11.78 ..... ..... ..... ..... ..... 11.84 ..... ..... 11.84 11.88 11.84 ..... 11.64 ..... 11.72 ..... ..... 11.99 ..... 11.88 12.04 11.94 ..... ..... 11.43 May 5.52 -30
Prices as of close of markets Friday. Prices in dollar per bushel, except sunflower seeds and canola, which are dollars per cwt. Based on an Agweek survey of selected elevators and to-arrive bids reported by the USDA. Wheat prices may reflect milling or terminal. Many of the towns listed have other elevators with prices different from the ones shown. Durum prices are No.1 hard amber. *Delivered Erskine.
USDA to reduce direct payments ■
Cuts required under the sequester
By Jerry Hagstrom Special to Agweek
WASHINGTON — The Agriculture Department’s Farm Service Agency will reduce direct payments to farmers this year to regain $151 million that the agency is now required to cut under the sequester and has temporarily suspended disbursement of payments for many FSA programs starting on March 1 as part of reducing expenditures that went into effect under the sequestration provision of the Budget Control Act. Agriculture Secretary Tom Vilsack told reporters on March 19 that 350,000 recipients of certain programs would be required to repay a small portion of them. The payments are the Supplemental Revenue Assistance Payment Program (SURE), Noninsured Crop Disaster Assistance Program (NAP) and the Milk Income Loss Contract Program (MILC). Vilsack said that more than 90 percent of the farmers involved also get direct payments and USDA had decided that the easiest way to recoup the money was to cut the direct payments rather than bill them and ask the farmers to send USDA a check. But a USDA source on March 21 told Agweek that the SURE, NAP and MILC payments have been temporarily suspended. USDA is authorized to use a limited interchange authority within FSA programs that allows the transfer of funds from direct payments to other FSA programs so that the effects of the reductions are not felt in those programs, but there is a 30-day Congressional notification period that must pass before the agency can move forward with this transfer, the source explained. USDA notified Congress on March 19 of its intention to transfer money from the direct payment program to other FSA programs. This would have the result of capturing the savings required by the sequester by reducing payments made through the direct payment program account by up to 8.5 percent. After 30 days, FSA intends to resume making these program payments in full. “While USDA’s efforts will minimize disruption to the extent possible, we cannot mitigate the negative effects that cuts of this magnitude will have on our mission,” a spokeswoman for Vilsack said. “We continue to urge Congress to replace sequestration with balanced deficit reduction.” Early last week, Vilsack told reporters that 350,000 farmers would be required to repay small portions of payments under the SURE, NAP and MILC programs and that USDA would handle those repayments by reducing the direct payments that most of these producers get. Cutting back the direct payments would reduce both farmers’ and USDA’s administrative costs, Vilsack said.
REGIONAL NEWS Briefly...
■ Rural flooding: The Souris
River in northern North Dakota is expected to exceed flood stage in many rural areas this spring. National Weather Service hydrologist Allen Schlag says additional snowfall has increased the amount of water in the region that will runoff into the river. Dikes protect the city of Minot and Schlag
says rural areas with no dikes are of the biggest concern. Colder weather in the region has led to ice forming on the Missouri River and passing through the Bismarck-Mandan area. The weather service says ice collecting south of the cities has led to a river rise of about 3 feet, but there is no threat to property.
– Agweek Wire Report