Grains and oilseed futures were largely flat ahead of Friday’s WASDE report with wheat and soybeans finding small gains near the close. Cattle futures found late day strength while hog prices succumbed to more bearish influences and hit new contract lows. Wall Street is mixed with more trade war threats creating uncertainty, despite Elon Musk’s suggestion yesterday that he would take Tesla private at $420/share (Tesla stock rallied 11 percent on the news). Notwithstanding Tesla bullishness, stocks comprising the S&P 500 pushed the index to approach its lifetime high but as of yet the index has not been able to touch or break this point.
Corn December corn finished ½-cent higher today in quiet, range b...
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...
