Grain and oilseeds did little ahead of tomorrow’s massively important WASDE while cattle futures closed lower on lack of cash market support. Hog futures hit limit highs which will likely pull in additional support later this week. The weekly Export Sales report from USDA was neutral corn and soybeans while slightly bearish wheat. The report was “slightly” bearish wheat because, despite exports being down 38 percent YTD, it is very early in a wheat marketing year that is sure to be back-loaded with exports.
With only a few weeks left in the corn and soybean marketing years, it looks like 2017/18 exports will miss USDA’s projections. WPI’s forecast suggests soybean exports will fall 3 percent s...
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...
