The corn futures market may not have been a tower of strength today, but the December contract did close up 2 cents and within a half-cent of the day’s high. However, corn prices again traded in what has become their usual 4-cent range. General Comments Considerable attention is being paid to Sunday’s runoff election in Argentina between Daniel Scioli and Mauricio Macri. The most recent polls show Macri, considered a longshot underdog several months ago, holding a lead over Scioli. He is perceived to be more pro-business, although both have promised to devalue the peso, ease export licenses and reduce the export taxes on grains, soybeans and soy products. Argentine farmers have been hoarding soybeans as a hedge against inflation and deval...
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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Accountability and a comprehensive approach to export programming
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