Wheat, corn and soybean markets opened lower overnight, and they traded that way throughout the day session. A number of factors contributed to this trend today, including:
The forecast from last week for some rains (not expected to be heavy) across Argentina by this weekend hasn’t changed. Last Friday’s Commitment of Traders report showed the funds had covered a surprising amount of their short positions in soybeans, corn and wheat. The concern was that this did not really impact the markets or, at the least, didn’t push prices wildly higher. U.S. equity markets were again getting hammered today and are now down roughly 5 percent from their highs, which is creating some angst across most markets. Crude oil was lower...
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...
