Last week’s landed price of imported soybeans dropped $14/MT to $387/MT even as the yuan fell slightly against the U.S. dollar. That lower cost, however, was offset by a development that brought down wholesale prices.
Oilseeds Soymeal Inventories Finally Retreat As expected, several major soybean crushers have suspended operations in recent weeks in the face of flagging prices for soymeal and soyoil. Even with this cutback, utilization rates have remained fairly high, which has pushed prices further downward. Low prices and the suspension of operations resulted in a significant drop in China’s estimated soymeal inventories through mid-June. The nationwide total stood at 1,119,100 MT as of 16 June, a decrease of 285,...
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...
