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Producers and others who spoke this week at the National Cattlemen's Beef Association summer meeting on the proposed livestock competition rule complained about the potential impact to marketing agreements that could take away premiums producers have worked aggressively to gain.
Despite weather problems in Canada and Russia wheat areas, world supplies show no sign of impending shortage.
The spring wheat basis has been collapsing since early July due to a large carryover from the previous year and the outlook for a large new crop. Demand is predicted to increase only slightly with exports rising and domestic use falling. Basis levels look to weaken further during the harvest and beyond.
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