Wheat and soyoil managed some green today, but corn, beans and meal saw red. Not the whole session, but most of it. Volume could be called modest to low in corn and soy complex as the trade appears to have found its positions ahead of Friday’s key USDA reports. July corn and August lean hogs found new contract lows. But hogs managed to bounce back and close higher. Technical traders all point to heavily oversold conditions, but it’s the fundamentals giving the destination and technicals choosing the route. Assuming the fundamentals are correctly understood. There is understandable weather skepticism. Every year the bears drag out disaster stories. This year’s version includes:
Black Sea frost followed by...
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...
