The CBOT traded a mixed day to end a volatile and mostly bullish week. Corn and lean hog futures rallied with March corn posting a new seven-month high and hog futures posting fresh contract highs. Soybeans and wheat, however, could not match the bullishness of the corn market and ended lower in quiet trade. Soyoil, led by palm oil, continued its bullish trade amid a tightening world vegoil outlook. The export sales data was largely neutral corn, soybeans, and wheat, with export sales of all three commodities exceeding their respective weekly targets. Only soybeans, however, exceeded their weekly shipment target. YTD exports and bookings remain down sharply for all three commodities, which is a continuing headwind for futures. ...
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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