Ag markets face challenges as the USDA erroneously announced Chinese grain purchases before retracting the statement, creating unnecessary market volatility while farmers cope with tight margins and high interest rates.
• Breaking news on the passing of Hulk Hogan at age 71
• USDA’s credibility questioned after false China grain purchase announcement
• Good growing conditions across the Northern Plains with regular rainfall
• Spring wheat tour shows good quality but not record yields
• Spring wheat futures contract issues causing trading confusion
• Cattle markets hitting new all-time highs with excellent pasture conditions
• USDA reorganization moving thousands of employees from DC to regional hubs
• Closing the South USDA Building and Beltsville Research Facility
• Northern Plains facing severe harvest basis with corn potentially -80 cents
• Interest rates remaining high, affecting grain storage economics and equipment sales
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Thank you, Tommy G
