Grains and oilseeds traded a largely uneventful day while waiting for the USDA’s WASDE report on Friday. Livestock futures were lower with cattle futures tumbling on quiet cash markets while cash hog prices moved lower as well. Wall Street is higher on continued earnings growth/positive surprises and from Friday’s bullish jobs report.
Corn December corn finished ¼ -cent lower on a day with little news to move the market. The weather is increasingly hot/dry heading into mid-August which will not help corn yields. The weather issues around the world are well-known and mostly unchanged for today. The trade is eagerly waiting USDA’s forecast of the U.S. yield, as well as its updated assessment of world ending...
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...
