Overnight trends once again feature a slightly firmer soy complex versus mixed corn values. Funds purchased the board yesterday and appear ready to get long beans perhaps, as well as corn. Bean prices are probing further to the upside again this morning, extending gains on top of Tuesday's reversal activity. To be sure, we are trading weather, trade negotiations, and USDA report data. The last reports have been surprises that caught funds leaning the wrong way, so will this report do the same? It is the reason behind some of the housecleaning activity going on for the moment, i.e. lightening up on corn length while covering in bean shorts. In the meantime, here are the general expectations for today's report:
Lower corn and...
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...
