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Strong U.S. Dollar Headwind For Farmers

Grain prices declined throughout January, primarily due to the large South American crop soon becoming available for export. China cancelled 570,000 metric tons of U.S. soybean orders within the last three weeks, according to the USDA, in favor of pricing cheaper soybeans from South America. The strength of the U.S. dollar also has been a headwind for grain prices and making foreign grain more attractive to…