Yesterday’s explosive reaction to the WASDE failed to carry over into the overnight session. Then as the market opened the day trading session, weakness was present in the corn and Chicago wheat markets on pre-holiday profit taking. General Comments Yesterday’s explosive reaction to the WASDE failed to carry over into the overnight session. Corn traded in a 1 cent range before closing down the same amount. March soybeans retreated from the prior day’s 28 cent gain and gave up 6 cents on light volume. The lower soybean price was reflective of weakness across the entire soy complex, which diverged from mildly stronger Dalian soyoil and palm oil prices and a 25 ringgit gain in Malaysian palm oil. Wheat also gave up prior day gains with March...
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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