2025 Tech Hub Live

MGEX Nearly Doubles Trade Volume

Cindy Zimmerman

The Minneapolis Grain Exchange (MGEX) keeps setting – and breaking – new records.

MGEXMGEX’s July 2010 trading volume was 170,679 – a 98 percent increase over the same period last year and the thirteenth-best monthly Exchange volume in MGEX’s 129 year history. July futures open interest soared 61 percent year-over-year and total Exchange open interest increased by 51 percent in the same period.

Numerous records were set in July including a daily total exchange volume record of 17,973 set on July 15, making it the eighth best volume day in Exchange history. A new July futures trading volume record was also set with 168,490 Hard Red Spring Wheat (HRSW) futures contracts trading during the month. Electronic milestones included four top 20 electronic volume days; July 15 when 17,255 contracts traded electronically; July 22 when 12,820 contracts traded electronically; July 29 when 10,964 contracts traded electronically; and July 30 when 10,859 contracts traded electronically. Additionally, July total electronic volume reached 155,644, making it the second-highest electronic trading month in MGEX history.

“Stronger wheat market fundamentals have spurred trading interest from both the buy side and the sell side in our Hard Red Spring Wheat contract,” Rita Maloney, Director, Marketing and Business Development, MGEX said. “As the only U. S. wheat contract with a protein specification, our flagship contract continues to be an affective risk management tool for our worldwide market participants,” Maloney said.

Uncategorized

Conservation On The Eastern Shore

Chuck Zimmerman

Our welcome to the Conservation In Action Tour took place at the mouth of the York River this afternoon. I’m attending the Conservation Technology Information Center tour. We’re staying in Williamsburg, VA.

We started off with a nice sail of the area aboard the Alliance. This schooner is owned by Greg and Laura Lohse. I spoke with Laura. She says the Alliance is a 3 masted traditional schooner which is 105 feet long. The ship was built for charters. They purchased the schooner 5 years ago and do day charters here and week long charters during the summer in the Caribbean. The experience they offer is the “traditional sailing experience.” You get the opportunity to help unfurl the sails and work on the boat.

We’ll be touring farms tomorrow and I’ll be collecting conservation stories throughout the day but it’s going to be a long one as we bus from stop to stop. Keep an eye on my Twitter stream for frequent updates. Laura Lohse Interview

Here is a video clip of the sails being unfurled to start us off on our sailing experience:

You can also keep track of our activities via my photo album which you can find here: Conservation In Action Tour 2010 Photo Album

AgWired coverage of the Conservation In Action Tour is made
possible by and the

Ag Groups, Audio, Conservation, CTIC

I Can’t Ignore My Other Half

Melissa Sandfort

In a few posts, I’ve mentioned my love affair with field corn, and how it was first planted and harvested. What I failed to mention was the other “half” of what shaped my childhood ag experience and quite possibly, my appreciate for it. Soybeans. The other day, I was driving along the highway (Where unfortunately, the speed limit is still 55. 55? That’s slow enough for me to look around.) when I noticed the wind making soybean leaves look like waves on the ocean. It really was a beautiful sight, one otherwise taken for granted had the thought not occurred to me that my family spent “the other half” of their planting season drilling beans. (By the way, this photo was taken by my “other half.” He’s better with the camera than I am!)

Then I realized how little I actually knew about the history of soybeans. Here’s a snapshot:

Soybeans originate from China. The first soybeans arrived in America in the early 1800s but it wasn’t until 1879 that a few brave farmers began to plant soybeans as forage for their livestock. Around 1900, the USDA was conducting tests on soybeans and encouraging farmers to plant them as animal feed. In 1904, the famous American chemist, G. W. Carver discovered that soybeans were a valuable source of protein and oil. He encouraged farmers to rotate their crops with soybeans. To the surprise of farmers, this produced a better crop. But it wasn’t until the 1940s that farming of soybeans really took off in America.

I think this is all part of the process of educating myself about where our modern ag industry comes from; knowing that a part of my own history emerged on our lands some 70 years ago. Although I don’t work on behalf of soybean farmers, many of my captive audience members raise soybeans. So I thought I’d learn a little more about them today.

Until we walk again…

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Zimfo Bytes

Melissa Sandfort

    Zimfo Bytes

  • Beef.com is launching on July 28, 2010. Click here to be one of the first to take a free trial and secure your name before someone else gets it.
  • Monsanto Company welcomed the European Union authorization of two of its corn technology combinations, Genuity VT Double PRO (MON 89034 X NK603) and YieldGard VT Triple (MON 88017 X MON810).
  • After an 18-month process the Office of the Inspector General (OIG) review of the soybean checkoff fully vindicates the United Soybean Board, its staff and volunteer leaders, finding allegations against USB were unfounded.
  • Agriculture Secretary Tom Vilsack has received a letter signed by 75 Members of Congress urging the USDA to allow limited planting of Roundup Ready alfalfa.
Zimfo Bytes

AgWired App Shows Up At Cattle Industry Conference

Chuck Zimmerman

The AgWired iPhone App showed up during the board meetings at the Cattle Industry Summer Conference. I can’t tell you how excited and proud I was to see ZimmComm client John Kleiboeker, Missouri Beef Industry Council Executive Director, showing other beef producers a photo that he called up on his iPhone from the AgWired App. I just happened to be walking by at the time and didn’t even know John had downloaded the app.

Now how cool is that? I’m telling you folks. Apps are where it’s at!

Cattle Industry Conference

Get Your MBA In Beef Agvocacy

Chuck Zimmerman

If you haven’t obtained your Masters of Beef Advocacy diploma yet, what are you waiting for? This Checkoff funded program can be completed online and according to the Dean of the program, Daren Williams, NCBA, over 1,500 beef producers have done so ranging in age from 8 to 80 yrs. old! This is a photo of Daren from our media reception. Here’s what the MBA program is all about:

. . . equipping beef producers across the country to tell their story in presentations to schools and church/civic groups, through local media and in the “virtual” world of the Internet.

Sound like something you want to or should do? Then get started by filling out the online application. Daren Williams Interview

2010 Cattle Industry Summer Conference Photo Album

Ag Groups, Audio, Beef, Cattle Industry Conference, NCBA, Social Networking

Beef Evangelists

Chuck Zimmerman

We didn’t have an official National Beef Ambassadors Update on the Cattle Industry Summer Conference schedule although that might be an interesting session. However, I did meet with three of our team in the media room to find out what they’ve been up to and where they’re going next.

Pictured (l-r) are Becky Vraspir, Malorie Bankhead and Jackson Alexander. Each of these outstanding young evangelists for the beef industry have been very active speaking out at various meetings and conferences. Here at the conference they came in early to tour the NCBA and CBB offices where they got some additional training. It’s great to see them here since I’ve just got a feeling that you’ll be seeing a lot more of them in the future.

You can follow the National Beef Ambassadors on their website, blog, facebook page and Twitter. Beef Ambassadors Interview

2010 Cattle Industry Summer Conference Photo Album

Ag Groups, Audio, Beef, Cattle Industry Conference

NCBA, CBB, QSBC Leaders Talk

Chuck Zimmerman

Prior to the end of the Cattle Industry Summer Convention I came across some of the leaders of the NCBA, CBB and Federation of State Beef Councils having a discussion. I am quite happy to see this effort and think it’s a good sign for the future. There have been some very tense and emotional moments here at the conference but hopefully some of the issues have been ironed out and this type of interaction will lead to greater understandings and cooperation in the future.

I’ll be heading back to ZimmComm World Headquarters today but have more coverage of the conference that I’ll try to get posted tomorrow before heading on the the next agventure.

2010 Cattle Industry Summer Conference Photo Album

Ag Groups, Beef, Cattle Industry Conference, NCBA

Temple Grandin Presented NCBA Lifetime Achievement Award

Chuck Zimmerman

At the Cattle Industry Summer Conference second general session Temple Grandin was presented with a special Lifetime Achievement Award from NCBA. We heard some stories about the making of her HBO movie and she made a few remarks.

She said that back in the ’70’s there would be people that would help out a “quirky” kid and we need more of them today. She talked about the press conferences she has attended recently where the media had lots of questions about cattle stuff. She told them about slaughter plants, not harvest plants, and said they had no problem with that. She says it shows that consumers have questions and we have to do a better job of communicating with them. Temple Grandin Award Remarks

2010 Cattle Industry Summer Conference Photo Album

Ag Groups, Audio, Cattle Industry Conference, NCBA

CBB Update Session Was Packed

Chuck Zimmerman

The CBB Update Session was standing room only today. It also went over on time but there were some serious issues being discussed. This session is an official meeting of the Beef Board at which they take action as needed on issues that come before them. There were several today.

I thought I would post some of the remarks made from the podium for you. First I’ve got the financial report that was presented by Secretary/Treasurer Robert Fountain, Jr. The board is facing reduced revenues. He reported that the 2011 budget has declined by 24 percent since 2007. CBB Financial Report

Next up is the management report by CBB CEO Tom Ramey. In light of the budget restrictions he told the board that they must monitor and safe guard funds and spend them as wisely and effectively as possible to achieve their goals. CBB Management Report

2010 Cattle Industry Summer Conference Photo Album

Ag Groups, Audio, Beef, Cattle Industry Conference