The selling pace in the corn market has slowed as the December contract gradually slips towards the $4.00 level. Friday's corn supply and demand should not be as bearish as soybeans even if the yield is increased, because the acreage number will be unchanged. General Comments Markets were quietly mixed in the overnight session on light volume. That trend turned decidedly lower once the day session opened with soybeans again bearing the brunt of the selling. Weather continues to look very good for crop development. There's almost no way that Friday's WASDE report can be bullish. It will incorporate the 30 June acreage estimates, which means a big increase in soybean acres. It might raise the yield estimates based on the great crop ratings,...
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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