The final trading day of October saw few tricks or treats for ag commodities ahead of Halloween. The CBOT traded mostly lower in low-volume trade with corn and soybeans firming heading into the close. A risk-off mentality continued to dominate traders’ thinking as macro markets remain volatile ahead of Tuesday’s U.S. elections. Investors looking for stability/less risky trades in macro markets have increasingly bought the U.S. dollar, pushing currency higher and undermining CBOT values, especially wheat. Overnight trading volume was huge, with over 64,000 contracts of December corn trading hands, along with 34,000 contracts of January soybeans and 9,000 contracts of Chicago wheat. The overnight volume was largely due to London-...
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...
From WPI Consulting
Accountability and a comprehensive approach to export programming
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