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Grain markets were mostly higher in Thursday’s trade following a fairly friendly report, for corn in particular. Cattle futures continued to struggle in the midst of a risk off trade in the outside markets.
Major changes weren’t anticipated for USDA’s April World Agricultural Supply and Demand Report, but there were still a few surprises — mostly for corn.
“The sourcing from international markets has become mandatory. It’s more likely that things will get expensive than change,” says Jim DiLisi of Fanwood Chemical.
Scott Varilek with Kooima Kooima Varilek says cattle are trading lower Thursday morning with the retreat in the stock market. Grains are mixed ahead of the WASDE, but he doesn’t expect any market moving news from the report.
Farmers who are seeing this issue show up in their seed sample test results might want to consider not using starter in-furrow this spring. There are good options off the seed, Ken Ferrie reports.
Kurt Kovarik, vice president of federal affairs, Clean Fuels Alliance America, says it is a historic agreement.