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Ag markets mixed Tuesday morning

Corn futures continued to creep up with a few cents higher or so Wednesday morning. Slow farmer selling was resulting in firmer basis as the cold weather spurs domestic feed demand. At the same time demand from ethanol plants is rising as well. But export demand is still sluggish. News out of China said the country is planning to build more containers to reduce storage pressure due to increasing stockpiles of grains. December corn futures advanced 2.75 cent to close at $3.77/bushel Wednesday, while May was up 2.75 cents to $3.985.

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Researcher explores drone-driven crop management

J. Craig Williams, a Penn State Extension dairy and crop educator, is experimenting with soybean plots and drones in rural, northern Pennsylvania as part of a $9,200 grant provided by the Pennsylvania Soybean Board.

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Mixed trading highlights slow trading week

Corn futures continued to creep higher in overnight trade. Slow farmer selling is resulting in firmer basis as the unseasonably cold weather spurs domestic feed demand at the same time demand from ethanol plants is firming as well. Export demand is still sluggish, however, due largely to the soaring U.S. dollar. News that China will resume building government stocks of corn to shore up its domestic prices will not help, even though those prices are already 20% higher than world prices, as China continues to balk at cheaper U.S.

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U.S. farm profits to slump along with grain prices

Falling grain prices and rising expenses will drag 2014 U.S. farm sector profits to their lowest since 2010 and have resulting effects that include less capital investment and a moderation of growth in farmland values, the Department of Agriculture said on Tuesday.

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