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USDA forecasts all food costs this year will rise 2.3%.
Bryan Doherty, Total Farm Marketing, says grains saw profit taking on Friday after hitting chart resistance and a pick up in farmer selling.
The Soy Transportation Coalition says every foot of reduced water depth or draft is the equivalent of loading 7,000 fewer bushels of soybeans per barge.
Scott Varilek with Kooima Kooima Varilek says grains ease on profit taking and farmer selling. Cattle make more new highs for the move on hedge lifting and higher cash trade which was generally up $2 yesterday then fade.
Mexico’s President Claudia Sheinbaum announced a new agriculture plan aimed at reviving the country’s food production and distribution systems to resemble those of the 1980s.
Tomm Pfitzenmaier with Summit Commodity Brokerage says corn was pushed Thursday by strong demand with 15.5 million bushels of flash sales and weekly exports of 142 million bushels, the highest in 3 1/2 years.