Although it didn’t start out that way, today’s trading ended mostly in the green for grains and soybeans despite continued weak fundamentals and large net shorts positions by speculators. For the trading week, May corn is now up 4 cents, May soybeans have gained 13.75 cents, and May SRW has added 18.75 cents.
It isn’t export sales that are bolstering the market. Wheat had more washouts, leading to a marketing year low for weekly commitments – though it did beat expectations for sales in 2024/25. Soybeans were unremarkable but it was another solid week for old crop corn and soymeal.
Near-term, weather continues to be benign at best but generally bearish. Soaking rains are aiding crops in central...
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...
