Rains across the dry areas in central and northeastern Brazil did materialize over the weekend with more in the forecasts. This precipitation coupled with the meltdown in almost every other market brought more fund selling to the soy complex today. General Comments The world took a dim view of 2016 today with sharp losses in everything except the U.S. dollar and precious metals. One headline read “Flight to Safety” to start 2016! There were several factors worth noting:
China’s financial markets were down nearly 7 percent on more concerns/worries about the economy there. There is more turmoil in the Middle East with Saudi Arabia and Iran now exchanging threats. Rain in the driest parts of Brazil (central and northeast) did fall over...
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...
