GOOD MORNING, Prices are mixed this morning with a larger break in wheat, and a bounce in meal as traders unwind previous buy soyoil/sell meal spread trade. The Goldman Roll concluded yesterday with over 113,000 May/July corn spreads traded on the final day, a large amount of spread that accounted for nearly 66% of May contract volume. Wheat trades are lower as yesterday's Egyptian tender was awarded to Russia since US prices are at least $20 too high over the competition. Wheat ratings remain stable, with the crop off to a very good start. For now, the technical picture for wheat has turned neutral to bearish and indicates that a larger break could be coming. Meal prices bounce off their lows wit...
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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