Soybean and soymeal futures took a real beating this week as funds reduced their long positions. It was a combination of better U.S. weather and weaker outside markets, especially energy, that pushed prices to big losses. Futures markets opened steady last night but found buyers by this morning. General Comments It’s been a very bad week for anyone trying to be bullish commodities of any sort. Crude oil has been weak, soybean futures lost over $1/bushel, and the U.S. dollar has been strong. The market came back to work Tuesday after the U.S. Fourth of July holiday weekend, and the radar screens showed rain nearly everywhere across the Corn Belt instead of hot, dry weather. Funds turned into big sellers.Markets started last night’s session...
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...
From WPI Consulting
Accountability and a comprehensive approach to export programming
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