Oilseeds Soymeal Inventory Reaches 20-Week High With market data limited last week due to the New Year holiday, there was a lag in reporting. During the two-week information hiatus, China’s estimated soymeal inventory rose to a 20-week high of 1.23 MMT as of 4 January 2019. That was up 280,400 MT (+29.5 percent) from 21 December and 307,000 MT (+33.2 percent) higher than the total for the first week of 2018. As in November and December, the recent increase was not the result of an across-the-board surge in soymeal inventories at the regional level. For example, after trending down most of December, meal stocks in Shandong more than doubled in the past two weeks, jumping 77,900 MT (+129 percent). Similarly, Fujian, Guangdong, and Gua...
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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