The December WASDE is market neutral, and the corn and soy markets apparently came to the same conclusion. Wheat futures have been more impressed by today’s weaker U.S. dollar than changes to the world supply/demand outlook. General Comments This month’s WASDE, released by USDA today, maintained the reputation held by previous December editions of being the least eventful, least exciting issue of the year. Of course USDA made a number of relatively small changes, but we do not consider any of them to be surprising. Below are some of the highlights:
The U.S. wheat supply/demand, including estimated 2015/16 exports, was left unchanged. The carryout remains 911 million bushels. The already record-large world wheat production was increase...
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...
