The CBOT started out higher with an overnight rally, but lackluster corn demand and a lack of Chinese sales announcements/rumors left the grain markets to sink lower into the close. The Export Inspections report was bearish corn with shipments for just half of their volume needed this week while soybean and wheat inspections were bullish their respective markets. Funds were net sellers of corn, wheat, and soybeans, liquidating 3,000-4,000 contracts of each commodity.
This afternoon’s Crop Progress report showed corn and soybean harvest slightly behind trade expectations but not by much. Almost half the soybean crop is harvested, which is welcome comfort to the soybean market. Corn harvest progress just touched 30 percent wi...
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...
