Hard times in the European wheat crop sent wheat markets into a buying frenzy that pulled corn higher as well. EU wheat futures closed 2.8 percent higher yesterday, helping spark a 6.3 percent rally in front-month CBOT SRW wheat futures today. The big catalyst for today’s activity was Strategie Grains’ reduction of EU soft wheat production to a six-year low. As Europe’s supplies are reduced, more attention will be given to the U.S. crop/stocks as the major world wheat supplier. Wall Street is higher with the Dow and S&P 500 pushing higher while the VIX and U.S. Dollar index are both lower. COMEX gold is higher along with crude oil futures.
Corn December corn seems to be in rally mode, gaining 7 ¼ cent...
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...
