It was another day lower for the grain and oilseeds sectors, and another day of weak volume for corn and the soy sector. The causes have not changed:
A strengthening dollar Very good harvest weather in the U.S. Potentially better weather in South America late next week
If good rains materialize next week in South America, there will be more blood in the water. This ignores what happens if central Brazil and southwestern Argentina remaining gasping for moisture. The dollar rose 2.19 percent on the week, but WTI and Brent crude oil had outsized gains, climbing 9.53 percent and 8.75 percent, respectively. Soybeans and soymeal ended the week lower, but there were modest gains elsewhere across the board.
Large food...
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...
