The overnight session saw grain and soy prices work both side of yesterday’s closes, although they were slightly firmer as the trading recess neared. Led by the soy complex, however, prices across the board turned lower not long after the day session began. General Comments As expected, the U.S. Federal Reserve Bank left its interest rate unchanged at about 0.25 percent at the close of its June meeting. The recent downturn in U.S. job creation as well as the uncertainties surrounding the Brexit referendum on 23 June and Britain’s potential departure from the EU were cited as factors in the decision. Neither the Fed’s statement nor Chairperson Janet Yellen’s press conference gave any hints about when the next increase might occur. However,...
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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