News of a 1+ MMT sale of corn to China ahead of this week’s U.S.-China meeting in Alaska sparked a minor rally in CBOT corn on Tuesday. Soybeans reluctantly followed suit though lacking conviction as the advancing Brazilian harvest is pressuring the U.S. export outlook. Wheat futures crashed early but rebounded to slight gains by the day’s end. Overall, the day’s trade confirmed the continuation of range-bound trading patterns heading into USDA’s March planting report. Funds are thought to have bought some 10,000 contracts of corn today along with 4,000 contracts of soybeans while remaining mostly flat wheat. Funds likely sold 5,000 contracts of soyoil and did little in the soymeal market. So far, the CBOT&rsq...
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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Accountability and a comprehensive approach to export programming
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