The CBOT was mostly higher on Wednesday as traders continued adjusting positions and preparing for the upcoming September WASDE report. Wheat was the upside leader – though trading volume was suspiciously low – as concerns intensify about drought in the U.S. Plains, the Black Sea, and Argentina. Soybeans and corn were also slightly higher for the day with some spec funds paring back short bets heading into the WASDE. Expectations are for the WASDE to confirm record-breaking U.S. soybean and corn yields and issue generally bearish S&D tables, but there are some concerns about yields not making their full potential after the last season heat across the Midwest. Additionally, and unrelated to the USDA’s report, is the fac...
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...
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