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North Mountain Ag Services

Weekly Update

NORTH MOUNTAIN AG SERVICES WEEKLY UPDATE Agricultural News: Corn futures trending lower. Soybean meal basis proving to be a challenge for livestock producers. Broiler production filling in the gap left by beef in the retail sector. Retail meat prices at historically high levels. Market Updates: This week’s USDA crop production report forecasts US corn production at 13.84 billion bushels in 2013.  This is an average yield of 155.3 bushels per acre.  With nearby corn futures dropping $0.17 per bushel this week, it appears traders are not being swayed by reports of dry weather in the western US. The soybean complex has softened this past week as a whole, but there has been little relief for livestock producers feeding soybean meal.  With basis levels ranging from +$130 to +$150 this past week, North Mountain is still recommending that end-users limit...

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