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Wheat continues to see relative weakness, though prices continue to trade within last Friday’s range.
Price-spreads between proteins continue to widen, potentially incentivizing substitution
Warmer temps coming to the Plains, Midwest
U.S. feedlot inventory hits 11.5 million as the closure of Lubbock Feeders signals growing pressure from border disruptions and declining cow herd numbers.
Funds have been buyers across the ag complex, holding near record length in several products.