The soybean story seems to be more about weather than demand. Today’s issue was that it is a Friday and forecasts can change over the weekend. Meanwhile, wheat had another round of erratic night and day sessions. General Comments Corn and soybean markets were better overnight. Meanwhile, Minneapolis wheat futures were down as much as 22-23 cents and up as much as 20 cents. Markets then opened firm this morning, but wheat couldn’t hold its gains into the close. Soybeans, though, were strong all day. Weather is the primary factor, and forecasts for the Corn Belt and northern Plains continue to look hot and dry. Today’s issue was that it is a Friday and forecasts can change over the weekend. Another problem was that the U.S. weather model lo...
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...
Illuminating the value of technical research
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