Wheat and corn continue to trade on one edge of the distribution while soybeans and soymeal chase the other side. The continuing trend is for declines in the value of corn and wheat, while soybeans push higher. Thus far this week, January soybeans have gained 47.75 cents (3.3 percent), while corn and wheat chase the other direction.
Then again, soybean fortunes are likely to reverse in a just a few more weeks when Brazil starts hitting on even more cylinders. Soymeal seems unlikely to hang on to outsized gains, especially if soydiesel enthusiasm sputters. Corn is hanging in there better than expected, though it has been held up by domestic demand, and now ethanol is chasing gasoline demand lower. The USDA weekly Export Sales...
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...
