GOOD MORNING, Prices are mostly mixed this morning with soyoil and oilshare higher. Wheat charts broke down a touch as major support lines were crossed. The chart will now have to re-establish support again or wheat will work lower. Soyoil prices appear ready to possibly work higher again after walking back to important moving averages that for now appear to hold. The domestic bean basis continues to firm, and as we near the Feb. 15 deal deadline, more shorts could cover in their bean position. Currently, however, there is nothing that supportive, particularly as a weaker Brazilian currency and a record crop bears down on the market. The data in the Feb. WASDE was mostly neutral to bearish i...
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...
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