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In the USDA's prospective planting report released yesterday, corn acres were slightly above expectations, while soybean and wheat acres were lower, with wheat plantings at a 102-year low. US corn planting is expected to decline 3% year-over-year, with significant reductions in key states. Soybean planting is projected to increase by 4%. Wheat planting is expected to drop 3% to the lowest since 1919. Live cattle futures rallied, while lean hog futures declined. China's hog sector struggles with oversupply. Winter storm warnings were issued for central Wisconsin and the North Dakota-Minnesota border.
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By Successful FarmingIn the USDA's prospective planting report released yesterday, corn acres were slightly above expectations, while soybean and wheat acres were lower, with wheat plantings at a 102-year low. US corn planting is expected to decline 3% year-over-year, with significant reductions in key states. Soybean planting is projected to increase by 4%. Wheat planting is expected to drop 3% to the lowest since 1919. Live cattle futures rallied, while lean hog futures declined. China's hog sector struggles with oversupply. Winter storm warnings were issued for central Wisconsin and the North Dakota-Minnesota border.
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