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Yesterday, President Donald Trump publicly told U.S. cattle producers that they’ve been doing well thanks to tariffs on imported beef and that now the administration is floating increasing imports of beef from Argentina as a tool to bring down domestic beef costs.
Portions of the U.S. experiencing drought declined 2% this week
Soybeans continue to lead strength, which will be difficult to continue without participation from corn and wheat in the next couple days.
Frost/freezes in the Midwest
Basis is firming as end users look to attract more soybeans