Markets started the week slightly easier Sunday evening on very limited trading volume with Minneapolis March at just 200 contracts. Meanwhile, March corn and Chicago wheat traded 8,000-10,000 contracts. What started as a marginally “red” day gradually turned into more solid losses for corn, wheat and soybeans as fund selling increased throughout the morning. USDA will release an important series of reports this Friday that will include:
Final 2017 U.S. corn and soybean production estimates U.S. and world supply/demand revisions (WASDE) Quarterly stocks estimates U.S. winter wheat planting intentions
The only one of these reports that is expected to show any bullish trend is the winter wheat planting estimate. While la...
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...