Markets surged to big gains in corn, wheat and soybeans in the first two hours of today's trade but couldn't hold above technical resistance, and the selling came back. General Comments It's been quite a volatile week in the markets, and it ended that way with a very erratic trading day. Trade was quiet and generally a bit lower overnight following yesterday's significant gains. This was the pattern all week. One very strong day followed by another selloff. Funds that still hold big short positions in corn and wheat would be covering shorts one day and selling again the next, or they would sometimes change directions within the same trading session. That's what happened today. Markets surged to big gains in corn, wheat and soybeans in the...
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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