Managed money remains heavily short wheat, corn and soybeans. Meanwhile, the focus of today's wheat markets was more on planting progress in the weeks ahead than potential crop troubles caused by dry weather.' General Comments Markets were very quiet overnight, but the trend turned decidedly lower once they opened this morning and those lower trends held throughout the session. Following are some of the issues driving today's sell-off:
Extended weather forecasts look excellent for planting spring crops (corn, soybeans). Options against the May futures contracts expired today. Technical signals turned ugly in corn and wheat. Funds selling was present in every agricultural commodity. Next Thursday is first notice day for delive...
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...
