"Volatility" was the word of the day at the CBOT with wheat futures initially pushing higher before crashing, corn and soybeans moving higher, and the livestock complex adding strong morning gains before turning tail for trendline support in the afternoon. The Export Sales report was neutral/bearish corn while neutral/bullish soybeans and bearish wheat. Wheat exports continue to lag their year-ago pace and that needed to meet USDA’s projections (although, admittedly, it’s early in the marketing year) while corn and soybean exports are lagging the pace needed to meet USDA’s 2017/18 export projections.
Wall Street is mixed with the Dow and S&P 500 heading in opposite directions while the VIX and U.S. Do...
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...
