GOOD MORNING, Prices are mostly higher this morning after the release of crop progress reports showed corn conditions off 3 percent vs. expectations for unchanged. The trade today may consist of more short-covering activity as funds are net short across the board. Wheat continues to sustain its recent upside turn higher from lower, with spill-over into the soy complex as more strength emerges. CROP PROGRESS
Corn: 3 percent lower vs. an expected unchanged, to 55 percent good/excellent, the lowest corn rating of the year. States that saw the greatest deterioration included Illinois, Nebraska, Michigan, Tennessee, and Texas. Missouri, North Carolina, and South Dakota saw the largest improvement.&n...
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...
