While still February, it’s very dry with the drought worsening across much of the U.S. as well as southern Manitoba and Saskatchewan (see the drought monitor maps below).
What prompted yet another look at this was an email from a reliable farmer in northeastern Montana discussing why he will be planting less wheat in 2018. The main point was that his breakeven price (USD/bushel) for spring wheat is now $7.28 with the current new crop price at $5.87. Based on his proven spring wheat yield of 30 bushels/acre, this would result in a loss of more than $40/acre. More importantly to him, it is so dry in his area that a yield of30 bushels/acre is a pipedream without significant spring and summer rain. This farmer’s own data shows th...
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...
