If not for the ProFarmer Crop Tour, most observers would be looking outside of the agricultural commodity markets for some entertainment this week. And there was plenty going on elsewhere from the assassination of Russian Yevgeny Prigozhin to the expansion of the BRICS, a G20 meeting, the first Republican debate, Argentina, etc. Watching crops grow, not so much. Which is probably why after the exchange of thousands of contracts, prices remain range bound.
Soybean speculators have spent the past few weeks reducing their net long position in soybeans but according to today’s CFTC data, that just reversed with them adding 8.2 percent to a new net long of 25,787 contracts. Even the crop tour was relatively drama-free. This band...
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...
