Wheat and soybean markets were strong overnight on very good volume. Weather in Argentina has become the market’s focus, and there were some scattered showers this past weekend. However, amounts and coverage were spotty. The six-10 day forecast looks hot and dry with temperatures possibly exceeding 100°F degrees. Brazil’s problem is too much rain that has delayed harvest in some areas. Funds did not reduce their short positions last week and reportedly started this week still short 83,000 contracts of soybeans, 126,000 contracts of Chicago wheat, and just over 200,000 contracts of corn. However, they have rapidly turned their soymeal position from short to long. All three markets are on the verge of pushing above key techni...
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...
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Accountability and a comprehensive approach to export programming
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