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Wall Street Breakfast: Must-Know News
Posted on June 17, 2008
Crop losses widen. The USDA released its weekly Crop Progress report: 9% of the corn is in excellent condition (vs. 10% last week), 48% good (vs. 50%), 31% fair (unchanged), 9% poor (vs. 7%), and 3% very poor (vs. 2%). Total corn in excellent-to-good condition is 57%, vs. 60% last week and 70% last year. 95% of corn has emerged, vs. 100% last year and a five-year average of 98%. Soybeans emerged is 71%, vs. 90% last year and a five-year average of 86%. This year's crop rating is the lowest since 1996. Rotten outlook sinks Chiquita. Food companies were slammed Monday after Chiquita (CQB) pre...
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