It was a day of red at the CBOT with corn and soybeans marking new contract lows and Chicago wheat breaking below key support. MGEX HRS wheat found support just above its contract low and did not venture below that point today. The cause of the day’s price weakness was – what else? - escalation in the U.S.-China trade war. China announced it will file another WTO dispute if the Trump Administration activates new tariffs in August. The situation is hardly improving for U.S. ag interests, a fact evident in CBOT prices today. It’s a “risk off” day in the markets with U.S. stock indexes lower amid trade war and other global geopolitical worries (i.e., conflict at the NATO meetings). The VIX is higher...
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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