It was a mixed day for futures trading with corn and wheat rebounding from early week contract lows but the soy complex sliding lower on a weak petroleum market that dragged soyoil down with it.
Weather added a bearish overlay as rains continue to be helpful for Argentina and the forecast calls for increased chances of showers in droughty northern Brazil. There are also storms moving across the overly dry U.S. southwest HRW crop. Deliveries against the expiring December contracts were not as many as expected. Registrations in advance included 2,950 CBOT wheat contracts, four lots of corn, and 62 for soyoil. Deliveries turned out to be just 1,347 for Chicago wheat, and nothing for corn or the soy complex. The China Int...
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...