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Meal closed above $500 on SA crop losses lifted beans and corn. Black Sea export concerns supported wheat. Live cattle hit contract highs on strong cash. John Payne of Hedge Point Global Markets has more.
Corn, beans up with SA concerns & meal into contract highs, but both hit chart resistance. Wheat following, putting in war premium. Live cattle hit contract highs with higher cash. Randy Martinson of Martinson Ag.
With the expansion of the U.S. soybean processing industry due to the push for green fuels farmers are looking for a new home for the extra meal...and they’re finding it in Morocco.
Morocco has a vibrant and growing protein sector, which presents an opportunity for increased sales of U.S. soybeans and meal.
A young, growing population with an appetite for protein presents an opportunity for soybean meal, in particular.
Grains mixed with profit taking in wheat, contract highs in meal supporting soybeans and corn is following. Cattle see strength after higher cash, with hogs firm . Allison Thompson of The Money Farm has more.