The markets stabilized overnight on decent volume following yesterday’s bearish USDA reports and subsequent price collapse. The Minneapolis wheat market then again bore the brunt of the selling today. General Comments The markets stabilized overnight on decent volume following yesterday’s bearish USDA reports and subsequent price collapse. Corn and soybeans managed to hold on to slight gains, while the three wheat classes, especially Minneapolis, were weak.Yesterday’s USDA reports left many analysts puzzled or at least disappointed. Funds that were starting to get interested beforehand in the long side of the market then abandoned that interest once they saw the numbers.Weather forecasts are basically unchanged. Temperatures will graduall...
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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