Wheat started the week positive. Early support was from spillover buying from a stronger corn and soybean market. Additional support was from thoughts of improving fundamental news, as traders are looking for winter wheat crop conditions to decline.
The Democratic-controlled Senate wants to make a small cut in food stamps, and Stabenow is likely to propose a cut of about $4 billion over 10 years, while the Republican-controlled House wants a much bigger cut.
The Canada-European Union free trade talks are nearing an end with agriculture issues the last major stumbling block to an agreement both sides say will boost economic growth, the EU ambassador Matthias Brinkmann said Thursday.
Through a partnership with Henry Kim, president of United Soy Food, Goldkim soybeans were born. Kim says a lot of shipping containers come into the U.S. from Korea, China and Japan full and about 70 percent return empty.
One would think a farmer easily could have hedged new crop soybeans at profitable levels, given the great cash prices over the winter. It was never that simple, however, because new crop was always discounted.
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