Markets were all lower overnight, and that pattern accelerated throughout today’s session with wheat, corn and soybeans all suffering big losses at the close. The two primary factors in today’s markets are the following:
Corn Belt weather looks wet for the first half of this week. The latest forecasts indicate that heat and dryness will follow but not continue for a prolonged period. China’s president made comments over the weekend indicating that country is ready for a trade fight. The 6 July deadline for implementation of the proposed tariffs is now little more than a week away.
U.S. equity markets were also getting smashed today. Crude oil and the U.S. dollar were lower as well.
Corn FUTURES Corn can...
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...
