Overnight trade was light as the markets were largely waiting for this morning’s export sales report data. Before it was issued, corn, wheat, and soybean futures were slightly higher. The report, however, was bearish old crop corn and soybeans, which meant the overnight session ended with corn up only a quarter-cent and soybeans down 8 cents. Wheat futures were slightly higher as the export report was better than expected.
The biggest news of the day was USDA’s announcement of a new farm payment package to compensate farmers for trade war-related losses. The markets did not believe USDA’s promise that the payments would not distort acreage and promptly sold off. Nearly all CBOT products finished in the red, while CME li...
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...
