The July WASDE came out bullish corn and wheat while bearish U.S. soybeans. World wheat ending stocks are forecast 4.6 percent less than last year while corn ending stocks could fall 20.7 percent form 2017/18 figures by the end of the new marketing year. World soybean ending stocks, thanks to the U.S. and China, are set to grow 2.3 percent in the coming year.
USDA was widely expected to reduce the U.S. soybean export number in today’s report and the agency did not disappoint, cutting the forecast 250 million bushels and adding 195 million of that to ending stocks. The report was decidedly bearish soybeans. USDA decreased expectations of 2018/19 U.S. corn ending stocks by 1.6 percent even after increasing production for...
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...
