The markets were slightly firmer overnight but then caught a little fire this morning. It is starting to seem that those in the corn market are considering the possibility that the 2019 U.S. crop could fall below 13 billion bushels. There is also more concern now that not all the soybean acres will get planted. The seven-day forecast looks extremely wet (see map below).
If the predicted rainfall occurs, it will both stop additional planting progress and leave what is planted standing in water. This forecast is also is terrible for a mature winter wheat crop. Farmers can’t get into the fields with combines (headers), and disease is starting to become a major concern. USDA made the following export sales announcements this morn...
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...
