It turns out that the Saturday night dinner in Argentina between Presidents Trump and Xi met or exceeded most expectations, although to what degree depends entirely on which country’s perspective one chooses to accept. There is a 90-day window for more intense discussions, and that is a breakthrough no matter the side taken. There are of course more unanswered than answered questions such as the following:
While China has agreed to buy a significant USD value of U.S. agricultural products, will it start today, next week or at the end of the 90-day negotiating period? Does an exporter dare sell soybeans to China that can’t be shipped within this 90-day window? Will the resumption of trade make a notable difference in the le...
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...