Last half December is generally quiet and rangebound in the markets as the B Team is instructed to ride out the holidays in a caution mode. Except for the higher volume today in SRW on fears of an Arctic vortex, volume in corn and the soy complex was down by a third. That makes the market easily pushed around and it was the sullen mood on Wall Street that provided the damper today. Yesterday’s staunch and hawkish stance by the Fed coupled with today’s retail sales report showing a pullback in November was enough to reinforce dread about the future. U.S. retail sales grew, especially for food and restaurants, but the pace was slower, and a real Grinch was falling manufacturing output. The result was the Dow, S&P...
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...
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