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MARKET SLOW TO RESPOND TO CROP CONDITIONS

Crop condition ratings remained relatively poor in USDA’s weekly crop progress report, but they’ve yet to spark a market response. According to Todd Hubbs, University of Illinois ag economist, traders are pricing in downward adjustments due to less-than-optimal growing conditions. “There is an expectation of lower yields to be reflected in USDA’s Aug. 10 crop production report,” he said. (FarmWeekNow.com)

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