GOOD MORNING, Prices are continuing to chop back and forth in trading range activity. Bulls want to see if this week's lows can hold. Wheat prices continue to place new lows as supplies are ample. Stats Canada yesterday was bearish for wheat, with overall production at the higher end of estimates. EU, Matif, Russian, and Australian wheat prices are lower. Corn is lower following wheat. However, South Korea has been an active buyer of corn this week on the break. US corn remains the best purchase globally. Ukraine had been a key competitor globally but cannot currently compete with US prices. In the soy complex, soyoil is higher on tight global vegoil supplies, and higher India a...
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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