Soybeans had quite a trading range today, triggered by more bullish USDA stocks and acreage numbers than expected, and there was no stopping wheat in any of the three markets. General Comments There were quite a few things happening in today’s markets:
It was the last day of the month. USDA released its acreage update and quarterly stocks report. It was the last trading day before the weekend and the 4th of July holiday week in the U.S. Markets will be open from 8 PM (EDT) Sunday night until 1 PM (EDT)Monday. They will then be closed until 9:30 AM (EDT) Wednesday morning. That can be an eternity if the weather forecast stays hot and dry. Today’s weather forecasts looked hotter and drier for the entire western half of the U.S., and 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...
