Today's announcement that China had bought more U.S. soybeans had less influence on price than prudent action. General Comments It is stating the obvious to say that futures markets are dependent upon expectations, and changing expectations influence the price of futures contracts. There has been a common expectation the past couple of months that the January yield estimates for corn and soybeans will continue to increase in USDA data that will be published on Friday, 10 January. During that same two-month time period, there has also been no real, offsetting bullish news. Instead, China made some major cancellations of U.S. corn, and EPA restrained the ethanol mandate. In relation to soybeans, South American soybean acreage seems to have...
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...
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Accountability and a comprehensive approach to export programming
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