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Grain markets mixed in the overnight trade. These are the important levels we will be keeping an eye on through today’s trade.
This week’s USDA Crop Progress report shows corn planting five percentage points (49% planted) behind average, while soybean planting has slowed to just a single percentage point ahead (35%).
Grains rally led by wheat on continued crop concerns and fund short covering. Live cattle lower despite the futures discount to cash. Hogs fall on the futures premium to the LHI. Brian Grete, Pro Farmer, has more.
Brian Grete, Pro Farmer editor, says wheat led the price rally in wheat once again adding weather premium on global production concerns.
USDA raised its 2024 beef production forecast 139 million lbs. from last month on expectations of higher slaughter during the second half of the year and heavier carcass weights.
Selective spray green on green is a new tool to help manage resistant weeds while reducing the amount of herbicides applied on a field.