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Crop, livestock markets diverged Monday morning

Short covering reportedly boosted crop markets Monday morning. Tomorrow’s big USDA Grain Stocks and Prospective Plantings reports could spark strong reactions in the crop markets, so traders are probably squaring positions beforehand. Indeed, wire service reports cited short-covering for today’s early corn strength. Concurrent soybean and wheat gains are likely pulling corn higher as well. May corn futures edged up 2.0 cents to $3.93/bushel late Monday morning, while December added 1.75 to $4.165.


Cooney: Weaner breakevens reach $31

Looking at hog sales in September and pricing off the October lean hog contract the weaner breakeven was $31.80, up $3.53 for the week as future prices increased $1.97. Feed costs were up $0.50 per head.


Jolley: Farming redefined

What does it mean to farm? I'm not asking for a warm and wonderful recitation about the joys of raising a family, working with God's green Earth or any of those other emotional triggers that so many people who receive the calling feel. I'm talking about the legal definition that opens up Uncle Sam's deep pockets, the legal description that brings with it farm subsidies; checks in the mail totaling millions of dollars.


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