The CBOT traded a relatively quiet day with corn consolidating and wheat attempting to turn lower before support entered on a break below key moving averages. Soybeans rallied once again on news of fresh export sales to China and soymeal followed suite. Funds were net buyers in soybean and soymeal futures while becoming modest sellers in corn and wheat. Outside markets were mostly higher as investors pushed cash previously on the sidelines back into stocks, particularly the NASDAQ. The S&P 500 and Dow finished with strong gains while crude oil recovered from its recent weakness as well. The U.S. dollar slipped 18 bps but is still trending higher from multi-year lows.
Notable Market News USDA FAS reported 238,000 MT of soybean...
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...
