The continuing decline in wheat, corn and soybean prices is good news for the world’s consumers, but it is very bad news for the world’s producers. Hardly a day has gone by recently without a reminder that world crop production prospects for 2019 are much better than last year. World consumption of virtually every agricultural crop continues to set records every year. Annual soybean consumption increases have been especially significant, led of course by China.
The assumption a year ago was that Chinese soybean imports would exceed 100 MMT this marketing year. The latest USDA estimate is significantly lower at 88 MMT, but that could still be too large as the African swine fever (ASF) problem is worsening instead of improving...
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...
