The uncertainty over yield and demand continues. The crop output side switches to bearish as improved rains are considered, but how much damage has there already been? Experience suggests not to underestimate crop genetics and the forgiveness they imbue for weather challenges. It has only been briefly a challenging growing season. Demand has generally been good, largely driven by China, it should continue good based on the Phase One commitments, but the siphoning sound is not guaranteed. There are three things to think about right now:
The trade is not going to gamble much ahead of the 11 September WASDE since that report will have a more concrete basis for its numbers.
The trade is not going to put itself into...
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...
