Anticipation of continued cash market strength boosted live cattle futures, as illustrated by the February contract’s $2.50 premium to last week’s live steer average of $140.48.
Crop Consultant Dr. Michael Cordonnier says he was holding out hope that production losses due to drought in southern Brazil would be partially offset by stronger yields in central and northern areas.
March corn futures rose 4 3/4 cents to $6.55 3/4, the highest close for a nearby contract since $6.83 on July 14. December corn rose 3 1/2 cents to $5.98 1/4 after posting a contract high.
Soybean prices have a chance of hitting the all-time high of $17.94 3/4 a bushel set in 2012 said Alex Sanfeliu, head of Cargill’s World Trading Group. . .
U.S. farm groups representing thousands of farmers and farmer-owned cooperatives that will be harmed by EPA’s decision to revoke all tolerances of chlorpyrifos are taking legal action against the agency.
