West Des Moines News
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Hog futures slumped to a two-week low on speculation that demand for U.S. pork is slowing and supplies are increasing. Cattle prices were little changed.
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Cattle futures rose for the first time in three sessions on signs of improving demand for U.S. beef. Hog prices also gained.
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Corn traders are the least bullish in seven months as U.S. farmers prepare to plant a record crop amid an outlook for drier Midwest weather in coming weeks.
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Wells Fargo & Co., the largest U.S. mortgage originator, is expanding its home-lending headquarters in Iowa as the firm plans for growth even while the industry predicts a slowing market.
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Corn futures rebounded from the lowest in almost 10 months after a government report showed increased U.S. production of grain-based ethanol in the U.S. Soybeans and wheat fell.
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Soybean futures fell for the first time in four days on speculation that dwindling U.S. supplies will curb processing activities and increase imports from South America. Corn and wheat rose.
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U.S. feedlot owners unexpectedly increased the number of cattle added to their herds in March compared with a year earlier as a drop in corn costs improved prospects for an end to operating losses.
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Cattle futures rose on speculation that U.S. meat purchases will increase as the weather warms up and more consumers grill outdoors. Hog prices also climbed.
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Corn supplies in the U.S., the biggest grower, are shrinking at the fastest pace in almost four decades as improving demand from ethanol refiners drains reserves already diminished by drought.
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The first man on the moon, the first U.S. woman in space and the first black Federal Reserve member were among the notable deaths in 2012.
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