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Good News In Grain & Bad News For 314,000 Turkeys
Manage episode 381126248 series 3011013
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Corn closed at $4.81 a second week below $5, Harvest is 59% complete. Export demand is less than robust, I think we may have finally gotten away from $6 corn, at least for the foreseeable future. This is excellent news for the whole protein industry built around cheap corn. Soy harvest is 76% done and though there is some uncertainty on international demand, pricing is pretty steady at least right now. Wheat is surprisingly moving a bit lower, nothing too extreme but with holiday baking season at hand, I’m a bit surprised.
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