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Lemke’s goal is to make a garment from raw wool to finish

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Cash Grain Markets

Cash Grain Markets

LEMKE, from pg. 13

There aren’t a lot of rules for the contest, but entrants must be residents of Minnesota and the fabric must be at least 60 percent wool.

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“There have been people who made things that didn’t pass the 60 percent test,” Sperry said. “We encourage people to get their wool tested before they go to all the work of making something.”

Sperry says finding wool fabric is a challenge. There are retail stores in St.

Paul and Rochester. An on-line purchase via Pendleton, such as those made by the Lemke family, are trustworthy.

Henry Lemke won’t be allowed to compete in the state or national show next year. Instead, he will be serving as Minnesota’s Lamb and Wool ambassador. It’s a role that he’s looking forward to.

“Wool is really a wonderful fabric,” he said. “It’s environmentally friendly, it’s comfortable, and, unlike synthetic fabrics, it breathes. That’s what makes it

Soybean exports lower than expected

NYSTROM, from pg. 16

U.S. soybean yield is expected at 52.0 bu./acre vs. 51.5 bu./acre estimated and 49.5 bu./acre last year. Final soybean yields have been higher than the February estimate in seven of the last nine years.

Crush was forecasted at a record high. U.S. production for 2023-24 is projected at a record 4.51 billion bushels vs. 4.515 billion bushels estimated and 4.276 billion bushels last year. The carryout is predicted to be 290 million bushels vs. 319 million bushels estimated and 225 million bushels last year. The USDA has a history of overestimating ending stocks when compared to the final figure. The stocks-touse ratio is estimated at 6.5 percent. The average 2023-24 average farm price of $12.90 per bushel was down $1.40 per bushel from 2022-23.

Weekly export sales were on the low side of expectations and were the highest in three weeks at 20 million bushels. Total cumulative soybean exports stand at 1.78 billion bushels and are now down 1 percent from last year. The USDA is projecting year-on-year exports to be down 7.7 percent. We need to average 7.7 million bushels of weekly sales to reach the USDA forecast for 1.99 billion bushels. Weekly export inspections were in the middle of expectations at 1.578 mmt. Cumulative inspections are up 3.5 percent from last year when the USDA is predicting exports to be down 7.7 percent from last year.

The BAGE slashed its Argentine soybean production outlook by 4.5 mmt to 33.5 mmt. The USDA was last at 41 mmt. They dropped Argentina’s soybean rating by 6 percent to 9 percent good/excellent and increased the poor/ very poor category by 4 percent to 60 percent. As of Feb. 21, Safras and Mercado estimated Brazil’s soybean harvest at 21 percent complete compared to 23 percent on average and 33 percent complete last year. AgRural put it at 25 percent complete.

Outlook: How small is Argentina’s soybean crop? How did the unexpected weekend frost impact yields? The answer to these questions is unknown, but it may be safe to assume the crop is not as big as the USDA expects at 41 mmt.

A late week sell-off came as attention once again turned to the prospect of higher interest rates. The March 8 WASDE will provide further direction; but for now, we will need fresh bullish inputs to get back to the upper end of the recent trading range.

For the week, May soybeans posted a moderate 3 cent loss at $15.19.25, July was 6 cents lower at $15.08.5, and November fell 12.25 cents to $13.74 per bushel. May soymeal was $5.10 higher at $4.80 and May soyoil fell 53 ticks to $61.22.

Weekly price changes in May wheat for the week ended Feb. 24: Chicago wheat plummeted 54.5 cents to $7.21.75, Kansas City dropped 60.5 cents to $8.35.25, and Minneapolis was 41 cents lower at $8.82.5 per bushel. v comfortable even in warm weather.”

One of the things Henry plans to do while serving as Lamb and Wool ambassador is to attend wool shearing camp to improve his shearing skills.

As ambassador, Henry is available to speak to 4-H clubs and other groups about wool and lamb. He is a member of the Valley Victors 4-H Club and learned public speaking through the club.

If you’d like to learn more about the Minnesota “Make It With Wool” contest, visit the Minnesota Lamb and Wool Producers Association at mnlwp. org or you can contact Sperry at gtsperry@frontiernet.net

North and South Dakota, along with Wisconsin, have “Make It With Wool” contests. Iowans can participate in the National contest via the at-large contest. More information can be found at makeitwithwool.com v

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