The beat goes on (just more slowly). Corn and wheat prices were slightly higher overnight with soybeans slightly lower. That’s how the market opened this morning and then traded through much of the session to finish the week. Corn did catch a little fire, though, and its strength was likely the result of the five-seven day precipitation forecast highlighted in the map below. The guts of the Corn Belt will undergo another very wet siege, and that will keep the corn planting pace a bit behind. The trading volume today was average in wheat but well above average in corn and soybeans.
News that President Trump and China’s President Xi “might” get together in Washington in June prompted some chatter about a trade deal...
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...
