The supply side looks a mess as agricultural production outpaces demand. Rabobank even notes the expansion in poultry production by non-traditional suppliers like Australia and New Zealand. Agency Announcements
Ethanol: U.S. EPA incited vitriol from the corn ethanol industry by calling for 14.8 billion gallons of mandatory ethanol blending in 2017 instead of the 15 billion gallons suggested by the statute. The agency continues to see infrastructure constraints (the blend wall) that ethanol producers do not. TPP: The U.S. International Trade Commission (ITC) released its Trans-Pacific Partnership (TPP) analysis, “Trans-Pacific Partnership Agreement: Likely Impact on the U.S. Economy and on Specific Industry Sectors” late today. As expec...
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...
