The nearby canola spread is weakening, basis is weakening, and the latest weekly export volume is the fourth lowest seen this crop year. The July canola chart also shows a bearish technical signal this week. Strength in soybeans is linked to soymeal demand.
USDA, livestock producers and Congress could find themselves in a race to see whether the Obama administration is going to dramatically overhaul rules under the Packers and Stockyards Act this year or face another appropriations rider that would block such action.
Ask a room of 200 agricultural CPAs if Congress will tackle tax reform after the election and only one or two brave souls raise their hands. Revolutionary style tax laws see daylight only once every 30 years or so, if the 1954 and 1986 laws establish a pattern.
While smaller tractor sales are up, all other size tractor as well as combine sales saw double-digit declines in the April compared to last year, according to the Association of Equipment Manufacturers (AEM).
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