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John Phipps says eggs are a perfect example of an inelastic product – one barely sensitive to price. And as egg inventory ramps back up, it may be an indicator of what it could mean for egg prices in the months ahead.

Mexico on Monday announced a new decree, effectively banning imports of GMO corn. Following the declaration, Mexico quickly softened it’s stance after facing backlash from the Biden administration.

The House will take the reins in writing farm bill 2023. House Ag Chairman Thompson says the pen is “firmly” in his hand, with few tweaks to be made from 2018. The Senate says their version is nearly complete.

AgDay TV Markets Now: Garrett Toay of AgTraderTalk says grains saw some profit taking, but are still holding weather premium, watching South American and U.S. forecasts.

Participants of a crop tour conducted by Grupo Labhoro and Noticias Agricolas traveled 1,864 miles across Santa Fe, Cordoba, Buenos Aires and Entre Rios, Argentina last week analyzing the crop situation.

Grains ended mostly lower with profit taking, with an eye on weather and outside markets. Cattle consolidate, while hogs were supported by ASF news and bottoming cash. Garrett Toay of AgTradeTalk has analysis.

While Beijing denies the balloon that flew over the U.S. in early February was a government spy vessel, market analysts warn farmers the situation could ultimately impact export demand down the road.

Profit taking in cattle, but is it just a healthy correction and will cash be higher this week? Hogs supported by ASF concerns. Soybeans and meal consolidate. Brad Kooima of Kooima Kooima Varilek has more.

Grains mixed early with soybeans and meal seeing some profit taking. Oil and the equities lower after the CPI data showing inflation is still alive. Cattle also consolidate. Darin Newsom of Barchart has details.