S&P Global is the first private firm to issue an acreage planted forecast following USDA’s prediction for the upcoming campaign, but it will not be the last. The annual exercise is riskier this far out from when planting actually occurs because markets can change and farmers have certain flexibilities. Nonetheless, these early forecasts present some notable analyses:
Soybean acres will increase versus 2022, and corn acres decline, but not enough for corn to overtake soybeans. It will be the largest number of acres planted to soybeans since 2018. Acres planted to wheat will be the largest since 2016. Total acres planted to the big three, wheat, corn and soybeans, will be the largest since 2013. If yields are opti...
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...
