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Grains are mixed in the early morning trade as the selling pressure may be running out of steam.
Jim Conlan contends Swampbuster regulation is compelled conservation—all government stick and no carrot.
Soybean losses related to recent floods in Brazil’s southernmost state of Rio Grande do Sul were estimated at 2.71 MMT, state crop agency Emater said.
Steve Meyer, senior livestock economist, Ever.Ag Insights, says cash and cutouts just stalled the last six weeks, pulling down lean hog futures and cutting into break evens and profit levels.
Vince Boddicker, Farmers Trading Company, says with corn rated at 75% good to excellent the market sees the crop getting off to a good start, so the mentality has changed to “rain makes grain.”
Grain and livestock futures ended mostly in the red on Tuesday. Vince Boddicker, Farmers Trading Company, says the mentality in grains as turned to “rain makes grain”, especially with the favorable crop ratings.