Friday, July 23, 2021 11:42AM CDT
Zippy Duvall, president of the American Farm Bureau Federation, met with reporters this week. He said the Biden administration has been open to hearing Farm Bureau's concern about issues, but AFBF opposes the administration's push for tax changes and the group is watching how EPA addresses water-quality rules.
December corn is down 3 cents per bushel, November soybeans are down 11 3/4 cents, and September KC wheat is down 8 1/2 cents.
Falling grain prices were able to provide underlying support to the livestock complex. It is questionable as to how long that support will be able to hold futures even though cash prices seem to be weakening. The Cattle on Feed report was friendly, but that in itself, will not be able to turn the trend up.