The CBOT featured early firming in the grains complex with nothing but lower prices for the soy complex. Early buy corn/sell soybeans spread trade set the course for lower soy products trade while wheat spent the day drifting lower. The weekly Export Inspections report showed the influence of the Thanksgiving holiday with shipment volumes for the major commodities all posting sizeable weekly decreases. More importantly, however, YTD corn exports are down 58 percent while the same statistic for soybeans and wheat is 20 and 19 percent higher, respectively. The aggressive pace of soybean shipments so far is a fortunate positive for the soybean market heading into springtime when U.S. exports typically decline.
The one-day del...
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...
