Oilseeds Soymeal Inventory Continues to Drop The nationwide estimated soymeal inventory tumbled further following the five-day Labor Day holiday celebrations (1-5 May) to reach 590,700 MT as of 10 May 2019, a drop of 31,500 MT (-5.1 percent) from the last full week in April. While official data was not available last week, the inventory actually gained 35,400 MT (+5.7 percent) during the week ended 3 May 2019 as demand slumped because of the holiday. However, the real story is how much lower the inventory is than a year ago. Compared with the same week in May 2018, last week’s estimated total was down 625,100 MT (-51.4 percent). The primary drivers of the year-on-year decrease are declines in feed demand in the Shandong and East reg...
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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Accountability and a comprehensive approach to export programming
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