GOOD MORNING, Prices are lower across the board to begin the trading session. Crop conditions were slightly better than expected and weather remains conducive to crop development. There is currently no freeze forecast and above normal temperatures are helping crops to maturity. The impact of yesterday's terror attack on oil facilities in Saudi Arabia that pushed crude up to new highs over $60/barrel has eased, and with it the two markets impacted the most by the spill-over, namely corn and soyoil. Technically speaking, the inability of Nov beans to hold over $9.00 pressures that market today. Funds still remain short across the board with the exception of soyoil. CROP PROGRESS
Corn: Uncha...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
