Grain trade was lackluster with profit taking and position squaring ahead of Thursday’s WASDE report. The livestock markets were another matter, however. The hog market imploded while cattle struggled to find direction after yesterday’s implosion. Wall Street is higher as of this writing with the S&P500 and Dow up fractionally. The U.S. dollar is flat/higher at 96.3 while crude oil futures reached seven-month lows. Crude oil has weakened significantly in recent weeks after a series of actions that some analysts say were motivated by President Trump purposefully attempting to lower prices ahead of the Midterm elections.
Corn December corn finished ¾ cents lower on low volume but remained above key movi...
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...
