Grain and soy futures traded modestly higher overnight following yesterday’s weakness, although trading volume was in a holiday mode. The market was pulled between improving South American weather forecasts and expectations of more Chinese sales announcements. Prices remained firm early into the day session, helped by an array of daily export sales reports from USDA/FAS. Reported were the following:
426,800 MT of corn to Mexico, including 53,345 MT for 2019/20 100,000 NT of soymeal for Colombia 257,000 MT of soybeans to unknown destinations 204,000 MT of soybeans to China
We do not recall the last time there were announcements of four daily export sales. However, the market’s mood turned sour when the Justice Dept. ann...
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...
