Cattle futures closed sharply lower today on falling demand while the wheat markets continued to give back recent gains as well. Corn was slightly higher while the soybean complex remains the darling of bullish traders. There is little fresh news to impact the markets but tomorrow will bring some new reports for the market to digest. Outside markets are mixed with the S&P 500 and Dow up roughly 1 percent each and the CBOE VIX index down 3 points to 17.4. The dollar is essentially flat after modest gains this morning while COMEX gold is up $7/ounce. The energy complex is mostly higher with WTI crude unchanged and Brent up $0.22/barrel with modest gains in ethanol and natural gas futures. Corn March corn finished a quarter-...
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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