With the new harvest quickly approaching, the market for previous years’ corn continues to experience downward pressure. However, there is also another significant factor influencing market sentiment.
Oilseeds Soymeal Inventory Falls for First Time in Six Weeks China’s estimated soymeal inventory totaled 1,302,200 MT as of 11 August, up 451,900 MT (+53.1 percent) versus the same week a year ago but down 110,100 MT (-7.8 percent) from the first week of the month. Falling utilization rates were the main driver of the decline as market demand waned in the first half of August. The largest decreases occurred in the provinces of Guangdong and Fujian where the inventories fell 19,400 MT (-25.5 percent) to 56,800 MT and 20...
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...