Last week’s unexpectedly big hard red winter wheat yield forecast from the wheat tours kept pressure on wheat again today. The big rally in the U.S. dollar was also a negative factor. The fact that corn and soybeans were also very weak added to the wheat problem. General Comments Markets were quiet in the Sunday evening session, but they turned lower at this morning’s opening and traded lower the rest of the session. The bearish news today was:
USDA’s May reports will be released tomorrow, and no one expects any bullish news. The acting leader of the lower house in Brazil’s government evidently figured out a way to annul the impeachment vote. That sent the real and Brazil’s stock market crashing lower. Crude oil was down more than $1...
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...
