The much-anticipated USDA WASDE report contained a lot of red (see table below) but all the major agricultural commodity contracts nonetheless managed to experience a green-light day. Corn, wheat and soybeans were all higher ahead of the report on the White House announcement that it would postpone imposing new tariffs on China. An improved export sales report (see table below), word of more export sales to come (Taiwan and China), plus short-covering helped set the tone for a stronger open ahead of the WASDE report. The report itself was bullish soybeans, bearish corn and neutral wheat.
The weather outlook for finishing the U.S. crop looks positive, but attention remains focused on dryness in some of Brazil’s key soybea...
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...
