The U.S. winter wheat crop in the Southern Plains has gotten good
moisture at the right time and is off to a good start so far, but dry
conditions for wheat in the Southern Hemisphere have been less than ideal,
which may take a toll on the harvest.
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The nation's major financial regulators are in the midst of a
bureaucratic battle trying to sort out oversight of unregulated contracts such
as credit-default swaps. The House and Senate Agriculture Committee leaders are
pushing the Commodity Futures Trading Commission to take the lead role in that
oversight.
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A court order did not set a deadline for when VeraSun Energy Corp.'s
operating ethanol plants can accept or reject corn contracts. Creditors who
object to that must file a complaint by Friday.
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The chairman of the House Agriculture Committee said he likes his own
job, and even though his name keeps coming up, Collin Peterson said he isn't in
the running to be the next agriculture secretary.
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U.S. farmers are holding back their harvested product in hopes of
getting a higher price down the road. Prices are being held down by a lack of
demand by foreign trading partners.
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