Wheat could only manage a steady to slightly weaker day today as soybeans were very strong and corn closed a nickel higher. The market's attitude is still that world supplies are plentiful and demand is weak. General Comments The markets were all about soybeans today, and we expect that will be the case for the next several weeks. Funds were covering shorts on more export sales to China coupled with a weather forecast for the western Corn Belt that is cool and also dry. That led soybean futures to trade more than 20 cents higher and pushed the November contract back above $11.00. Corn followed with a meager rally, but wheat would have none of it.USDA announced 486,000 MT of soybean sales to China with 66,000 of the total listed as optiona...
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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