GOOD MORNING, Prices are slightly lower to begin the session after reaching temporary highs on a market bounce off contract lows. Seasonally corn and bean prices have a tendency to firm from May into July. Macro events have taken prices to yearly lows and then some. Confirmation of export business for beans to China firmed the soy complex this week, while firmer crude oil futures helped soyoil to push higher. Bean and meal spreads narrowed as well, particularly beans. However, rallies are still not met with buyers chasing, and more short-term bulls are taking profits on small rallies as fundamentals are still not in the bullish camp. Though prices have bounced this week, a still weakening B...
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...
From WPI Consulting
Accountability and a comprehensive approach to export programming
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