Markets traded most of the Sunday night session slightly lower before finishing steady in corn and soybeans but down 2-4 cents in wheat. However, corn and soybean markets abruptly turned higher at the opening of today’s session with the latter trading double-digit gains in the first 30 minutes. That took corn 3-4 cents higher, and wheat crawled back to unchanged. Soybeans held most of their strength today, while corn and (especially) wheat could not find any sustained buying. Trading volume was light. Weather forecasts continue to point toward no hot temperatures during corn pollination. There are some parts of the southern Corn Belt that are too dry, and parts of the northern Corn Belt have been too wet.
Corn FUTURES Co...
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...
