Grain and soybean futures were slightly firmer in quiet and choppy overnight trading, and price action during the day session was mixed. The changes in open interest from Wednesday’s trade are interesting in that they are signs of some major position shifting. General Comments Grain and soybean futures were slightly firmer in quiet and choppy overnight trading. Price action during the day session was mixed, but soybean complex prices ultimately turned higher with soymeal the leader, thanks to some commercial support. Meal futures closed up $3.80-4.40. Soyoil futures prices were trading back and forth for much of the session before finally managing to close a modest 4-7 points higher. Malaysian palm oil futures rallied to their highest pri...
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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