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Tidbits, Crude Oil, Broilers & Ethanol, Markets & Rain Days Update 12/7/23

Highlights


Smithfield canceled its contracts with 26 US hog farms.

Yesterday morning, USDA announced the sale of 372,000 mts of old crop soft red winter wheat and 136,000 mts of old soybeans to China

Direct quote from www.oilprice.com:

"Prices of Brent crude and West Texas Intermediate were down nearly 4% on Wednesday as an unexpected and significant increase in U.S. gasoline inventories added to concerns about lagging demand.

Wednesday’s prices reflect the lowest levels of crude oil since June this year, shuffling between a 3.5 and 4% loss throughout the first part of the day. At 1:34 p.m. ET, Brent crude was trading $74.64, down 3.32%, for a $2.56 loss on the day. WTI was trading at $69.71, down 3.61%, for a $2.61 loss on the day.

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