In today’s USDA/FAS export sales report for the week ended 12 July, there were a few interesting items deserving of some comment. Among them were the following sales:
30,000 MT of HRW to Argentina for 2018/19 80,000 MT of corn to Argentina for 2017/18 120,000 MT of soybeans to Argentina for 2018/19 30,000 MT of SRW to Brazil for 2018/19
This is a rare combination of sales of U.S. grain and soybeans to two countries normally seen as major competing exporters. It is so unusual that it is rumored that the reports of corn and HRW sold to Argentina are in error and will be corrected later. It is true that Argentina’s corn and soybean crops have been sharply reduced by drought, which has also hurt Brazil’s safrinha corn...
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...
