The traditional speculative trading funds are now holding a major short position in wheat (near a record) and have exited their long positions in corn and soybeans.Corn, soybean and wheat futures all gapped lower this morning following the long 4th of July holiday weekend in the U.S. The only hope for higher openings was possible major changes in the weather forecasts, which didn't happen. There is no dome of doom or high pressure ridging in the atmosphere that can bring even above-normal temperatures to the U.S. Corn Belt. That means that at the least the first 50 percent of the U.S. corn crop is going to pollinate under very good conditions with plenty of moisture and no heat. This, of course, has many in the trade talking about a nationa...
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...
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Accountability and a comprehensive approach to export programming
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