Wheat, corn and soybean futures all started higher this morning. Funds are holding significant short positions in all three, while yesterday’s rally in the euro coupled with better economic data is bringing short covering buying to these markets. General Comments Markets were mixed to slightly lower overnight in anticipation of various reports this morning. Below are some of today’s headlines:
The U.S. added 211,000 jobs in November. That was considered a bullish number and pushed the U.S. equity markets sharply higher following yesterday’s big losses. The jobs report also likely will give the Federal Reserve the courage to finally increase U.S. interest rates. The U.S. unemployment rate is 5 percent. Stats Canada released its final...
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...
