Funds appeared to have covered what they want to of their short positions in the grains complex, which left corn, soybeans and wheat to drift lower into the close today. The hog market, however, was apparently optimistic about a trade war resolution and jumped to near-limit gains. Clearly, much of the trade is still hoping for a trade war resolution from the pending G20 meetings, but whether that happens is simply unpredictable. The weekly Export Sales report was bearish wheat and neutral/bearish soybeans while retaining a slightly bullish feel for corn. Sales have slowed in recent weeks as foreign currencies fall against the U.S. dollar. For corn, the presence of Ukraine’s corn crop on the world market is an added competitive...
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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