There was red all over the board today with corn, soyoil, canola, and lean hogs all down the limit, and soybeans down close to the limit. It was downright bearish and let us count the ways:
Midwest crops are likely to get rain.
Inflation may be more than transitory.
The Fed signaled it will raise interest rates and maybe ease bond buying.
EPA is considering easing biofuel requirements.
The dollar has risen to the strongest it has been since mid-April.
Poor export sales report.
COVID will keep demand down in developing countries.
The Chinese are talking down grain prices.
Technicals are all signaling weakness.
The result? Funds dumped all day long. The market has now performed a 180-degree fl...
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...
