After mixed trade in moderate volume overnight, traders' wariness ahead of tomorrow's USDA reports led to some noncommercial selling during the day session. Some of the selling was no doubt a response to an improved weather outlook that began with good weekend rains forecast for areas that need it. General Comments The influence of the Brexit vote on financial and commodity markets is diminishing with world stock markets higher again today. At this writing, the U.S. stock market has regained about half of what it lost in the two-day washout following the UK’s vote to leave the EU. Grain and soy markets stopped trading Brexit on Monday and have returned to focus on their own issues: weather and USDA’s acreage and quarterly stocks reports t...
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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