The stealthy wheat market has staged a technical "adjustment." Chicago wheat futures have mirrored the corn market by closing higher for the last six trading days in a row. The December wheat contract has gained 30 cents during this period. General Comments There is something of a mini-debate about the extent to which USDA/NASS will boost its estimates of the national average yields for the 2014 U.S. corn and soybean crops in Friday's WASDE. Everyone agrees that NASS's yield estimates will be raised from September's 171.7 bushels/acre for corn and 46.6 bushels/acre for soybeans, but there are considerable pre-report differences of opinion over the size of the increases. Fueling the debate are the daily off-the-combine yield reports that 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...
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