The soybean market helped preserve the reputation held by USDA’s January reports for triggering a strong price reaction in the immediate wake of their release, and the wheat market responded with vigor. General Comments Lest it be overlooked amid the usual array of January reports from USDA, FAS did provide the weekly export sales report today for the week ending 5 January. Generally, it is uneventful, although today’s did highlight that the seasonal slowdown in U.S. soybean export sales is underway with a net of only 348,900 MT of new sales reported. World users are increasingly content to wait for the Brazilian soybean harvest to get well underway in the hope that it will pressure soybean prices lower. USDA’s estimate of a 104 MMT Brazi...
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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Accountability and a comprehensive approach to export programming
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