Corn, wheat and soybean futures prices all posted new contract lows during the day session today in slow trade. Momentum following funds continued to sell all three markets, and why not? General Comments It was generally a day of slow and low with the market casting off any fears from a potential freeze. Instead, markets are mesmerized by the startlingly high corn and soybean yields in the Delta and southern fringes of the Corn Belt. Traders wonder to what extent the "big crops get bigger" theory will be reflected in Thursday's USDA WASDE. The average trade guess for the corn yield is now over 170 bushels/acre with the soybean yield around 46.5 bushels/acre.Prices began to slide early in overnight trade under the weight of historically hi...
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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