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USDA raised its consumer food price forecast again, to 8.5% to 9.5% for 2022. The agency had initially predicted a 2% to 3% rise in prices. Eggs, fats and oils, and poultry prices are making the biggest gains.
John Phipps says he was aware that the West and especially the southern Plains had high average wind speeds, he didn’t realize the Midwest was also a good place to site wind turbines, especially the newer, larger ones.
Grains rebounded Monday putting in war and weather premium. Cattle worked in the USDA numbers from Friday, while hogs saw profit taking.
Cattle turn mixed after the Friday reports, with hogs seeing profit taking. Grains continue to rebound. Michelle Rook talks markets with Scott Varilek of Kooima Kooima Varilek.
Grain return higher after Russia bombs Odesa port, extended weather is also supportive. Livestock setting back. Chuck Shelby with Risk Management Commodities joins Michelle Rook to kick off the week.
Five months after the invasion, Senators will receive a classified briefing Wednesday. Russia launched a missile attack on the key grain-exporting port of Odesa Saturday, a day after signing a deal to resume exports.
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