Wholesale U.S. choice-grade beef hit an all-time high on Thursday, spurred by supermarkets stocking up on tight supplies for the May 25 Memorial Day holiday, the kickoff of the summer grilling season, traders and analysts said.
Wheat traded lower in most of the session this week, except for March 30. Early selling was tied to improving conditions for the Southern Plains winter wheat crop and from position squaring ahead of the March 30 U.S. Department of Agriculture report while strength March 30 was because of a friendlier-than-expected acreage report from USDA.
Corn started last week trading with strength due to continued weather concerns in South America, primarily Argentina. But the gains were short-lived once USDA’s reports were released. USDA’s Final Crop Production report was not friendly for corn, as USDA raised 2011 U.S. corn yields and harvested acreage.
WASHINGTON — The Justice Department will continue to advise the Agriculture Department on the USDA Grain Inspection, Packers and Stockyards Administration’s rewrite of the rule governing the Packers and Stockyards Act, outgoing Assistant Attorney General Christine Varney said July 12.
July 18, 2011
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