GOOD MORNING, The market leader for the morning is once again wheat, which placed a new high for the move up in the PM session. No doubt that this has become a very technical trade. All other markets are firmer as well, but are content to wait until we see the January report before further defining their trading ranges. Expectations are for corn and bean crops to be lowered, but the question is how aggressive will the USDA be? Small adjustments may break the market down, while a fundamental shift downward will kick prices out of current ranges to the upside. Funds will enter the report with a 120K short in corn, even in beans, a small short in meal, a very large long position in soyoil (100K plus...
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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