Overnight trading had corn and soybean markets higher with wheat markets slightly lower, and the only thing that changed during today’s session was an extension of those gains and losses. Treasury Secretary Mnuchin’s positive comments on the China trade deal from over the weekend seemed to be the primary reason that corn and soybean markets were up, and talk of a big 2019 Russian crop hurt wheat. U.S. equity markets were lower through most of today, but the losses were small. Crude oil and the U.S. dollar were both slightly weaker. Weather across the Corn Belt and northern Plains might start to improve after this week (see below).
Corn FUTURES Corn was firm on the same news that provided today’s strength in...
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...
