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Clark Johnston Market Report: Wheat Stocks in Idaho 42% less than this time last year.
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Clark Johnston Market Report: Corn holds it's own, Wheat doesn't fair as well
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Clark Johnston Market Report: Grain futures drop across the nation during vacation week
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In Idaho there were 310,000 cattle on feed, 7% higher than this time last year.
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Wheat stocks increase 15 million bushels, but still down compared to previous year.
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Dec 3, 2021
Idaho Farm Bureau Market Analyst Clark Johnston:
Class 3 milk futures are an exception, trading 38 cents higher in the January contract.
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Soft white basis in Portland stabilizes ending the week in the black.
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Wheat up, cattle down, milk up, yet heating oil is down!
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World wheat stocks in decline, US wheat in demand.
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After steady gains, US wheat opens down, in Blackfoot prices are down double digits.
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Cattle prices up 2 bucks!
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US ports are jammed and its impacting US Ag. Meanwhile winter wheat is planted across the nation.
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Hay, corn and wheat continue to trend upwards...while the cattle market is soft this morning.
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Southern Idaho basis strong!
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The Pacific Northwest and Idaho have seen record rainfall, while the nations cattle herds are declining.
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World wheat supply short, driving up local wheat prices!