GOOD MORNING, Price action remains dominated by weather forecasts and demand. Weather forecasts appear to moderate and offer potential rainfall in what has been a dry spell. US beans are the most competitive now till December. Producers have taken advantage of bean prices as they hit 5-month highs, with some basis bids lowered in various locations. Current weather calls for a better chance of showers, which is throwing a bit of a pause into the soy complex uptrends. The major trend in oilshare remains higher on rising demand, a slowdown in production, and tightening stocks. Cash and futures continue firm, with soyoil helping beans to stabilize. While the markets are on good rallies, the missi...
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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...