After several days of adding war premiums and one day before a USDA WASDE report, the market was mostly uneventful today. Volume was up in corn, soybeans and HRW, but only when viewed against an overall slower week. Corn, wheat, and soybeans all three dipped yesterday after several days of upward momentum and while soybeans recovered momentum today and corn followed, wheat continued to shed value.
Soybeans were bolstered by a CONAB report that dropped Brazilian output another 3 MMT. The agency added a little over 3 MMT to its estimate for Brazil’s corn crop, with most of the increase for the safrinha crop that has not yet been harvested.
The institutional roll forward for contracts from May into July has begun but the fund...
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...
