Both the soybean and soymeal markets rallied overnight as the Dalian soymeal market prices stabilized amid another session of record trading volume. Undoubtedly, another catalyst for renewed buying in the soy complex was the declaration by the Australian Bureau of Meteorology regarding the mega-El Nino. General Comments The soybean and soymeal markets are irrepressible! Both rallied overnight as the Dalian soymeal market prices stabilized amid another session of record trading volume. New volume records for Dalian meal futures have become almost a daily occurrence. Yesterday’s large increases in open interest for CME soybeans, meal and corn suggest that speculative long positions were added. Chicago wheat open interest also jumped about 5...
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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