Oilseeds Soymeal Inventory Holds Steady The feed market found new footing in the past week as demand from hog producers began picking up steam. Soymeal sales were higher as a result, and crushers have responded by boosting utilization rates back to above the 50 percent threshold. Thus, China’s nationwide estimated soymeal inventory totaled 1.156 MMT as of 25 May 2018, up 4,800 MT (0.4 percent) from the previous week but down 146,800 MT (-11.3 percent) versus the same week in 2017. The week-on-week increase was essentially due to growing inventories in the East region and Guangxi, which rose 29,300 MT to 622,300 MT and 13,000 MT (+14.94 percent) to 100,000 MT, respectively, last week.
Imported Soybean Inventory Remained Unchanged...
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...
