Good weather boosting crops in Brazil, the U.S. and elsewhere, an extension of the Black Sea grain corridor, and a rising dollar all conspire to extend the downward momentum in most commodities. The exceptions today were soyoil and livestock. The latter saw a new contract high in feeder cattle. Thus far in this trading week, July corn is down the most, -5.2 percent, July soybeans are -4 percent with slightly larger breaks in coproducts, and the three wheat classes are off -2 percent to -3.6 percent, the latter being July SRW.
The Black Sea agreement is just a two-month extension and Russia can still throttle down Ukraine’s exports as it has with slowed inspections, but Moscow avoids blame from third countries usi...
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...
