Wheat was trading steady to slightly lower overnight until reports hit the news that Ukraine had fired on a Russian truck convoy within its borders. That pushed Chicago wheat futures sharply higher on the uncertainty of what effect additional military action might eventually have on Black sea wheat exports. General Comments It was a curious day in the markets today with all sorts of different news bits affecting prices and creating big price swings. Here are some of those factors:
An early morning report that Ukraine had fired on a Russian convoy inside its borders totally changed the tenor of the wheat market from trading slightly lower to moving as much as 15-18 cents higher at one point. The NOPA July soybean crush number came in h...
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...
