This week Dr. Scott Irwin of the University of Illinois Extension Service has been running commentary on Twitter regarding the delays in getting the U.S. corn and soybean crops planted. Tweets are brief by nature, and so are the following observations:
He started talking about this spring planting season turning into a “Black Swan” event for corn sometime in the last two weeks. His data shows this season of planting delays is already historic and, based on the latest weather forecast, destined to become even more so. The previous statement means there are no analog years for comparison. His research suggests that analysts should start to consider the possibility that there could be 5 million or even 10 million corn acres i...
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...
