| |  On Tuesday we issued the following soymeal advice for livestock producers:
Livestock producers: Cover meal needs through January… The break below $400 in March soymeal futures is an opportunity to extend short-term meal coverage. We advise livestock producers to cover all meal needs in the cash market through the end of this month. We are targeting a drop to the $385 area (50% retracement of the November-to-January rally) to further extend coverage. You remain hand-to-mouth on corn-for-feed needs. Our target for extending corn coverage would be a drop to the $5.75 area.
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