Soybeans were the leader at the CBOT today while wheat and corn futures failed to find much buying interest. Cattle futures were higher while lean hogs fell in sympathy with lower cash values. The first day for deliveries on November soybeans found fewer notices than were expected, with the CBOT posted 13 contracts of deliveries versus prior estimates of 300+. That allowed soybean futures to recover from their recent beat-down but failed to inspire bulls in any other markets. Wall Street is higher as of this writing with the S&P500 up 1.18 percent and the Dow up 269 points. The U.S. dollar is down from recent highs, losing 4 bps to 97.084 while crude oil futures continued their selloff.
Corn December corn closed 1 &frac...
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...
