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Producers and others who spoke this week at the National Cattlemen's Beef Association summer meeting on the proposed livestock competition rule complained about the potential impact to marketing agreements that could take away premiums producers have worked aggressively to gain.
The spring wheat basis has been collapsing since early July due to a large carryover from the previous year and the outlook for a large new crop. Demand is predicted to increase only slightly with exports rising and domestic use falling. Basis levels look to weaken further during the harvest and beyond.
Wet weather and other factors have so far kept soybean and corn insect pests at bay. Bug experts stress growers should continue scouting, especially for corn rootworm and soybean aphid damage.
Saturday will be marked with a few showers in the central Midwest, but dry elsewhere. The main weather feature will be warm conditions in the Midwest, and hot, stressful readings in the southeastern Plains through the Delta and the Southeast. » More DTN Weather Commentary
It seems as if analysts at DTN Premium Service providers are rubbing their eyes as they look at the quote screens -- right along with the rest of us -- as they try to make sense of this week's rally.
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